Financial Daily from THE HINDU group of publications
Thursday, Mar 18, 2004
Financial Daily from THE HINDU group of publications Thursday, Mar 18, 2004 |
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Money & Banking
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Forex Rupee stable; gilts move up Our Bureau
MUMBAI: The rupee was steady for the third day in a row with the currency ending its Wednesday trade at 45.2425/2450 in its value against the dollar. "There were good supplies of the greenback in the market, but the central bank was seen buying it up in the absence of corporate demand for the dollar,'' said a dealer in a private bank. The domestic currency moved between an intra-day high of 45.2425 and an low of 45.2550. The premia moved up in the forward market with inter-bank activity. The six months forward closed at 0.44 per cent (0.39 per cent) and the one-year forward closed at 0.54 per cent (0.48 per cent). In the government securities market, prices moved up by 10-30 paise with traded volumes as high as Rs 5,800 crore. There was considerable buying interest by all sorts of players, said the chief dealer in a bond house. The 8.07 per cent 2017 paper which closed on Tuesday at Rs 123.35 closed at Rs 123.67 with a yield of 5.48 per cent. The ten-year benchmark at Rs 117.10 at a yield of 5.17 per cent ( Rs 116.80, 5.21 per cent). The prices dipped a tad in the evening with selling by some players. Call rates were steady and surplus funds worth over Rs 48,000 crore were absorbed by the central bank through the LAF window at the repo of 4.5 per cent.
More Stories on : Forex | Govt Bonds
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