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Our Bureau

MUMBAI: The rupee closed almost unchanged from Friday's levels, ending at 43.89/90 per dollar on Monday in the forex market.

After opening the day at 43.84, the rupee fell to a low of 43.92 due to significant dollar buying by state-run banks, said a dealer.

Dealers said, the market was still flushed with dollar liquidity and state run banks were buying dollars at RBI's behest. The cash-dollar shortage is still prevalent in the market, dealers said.

"Most people have slipped into a wait and watch mode. We can't expect much activity before the elections," said a dealer.

Meanwhile in the forwards market, the six-month premium ended at - 0.25 per cent (-0.26 per cent) while the one year premium ended at - 0.04 per cent (-0.23 per cent)

Bond prices fell by about 5-10 paise due to some profit booking in the government securities market.

Although there were apprehensions of RBI coming out with an OMO to suck out excess liquidity from the system, market players were by and large confident on account of the good liquidity.

The 8.07 per cent 2017 paper opened at Rs 125.50 and got dealt lower at Rs 125.41/43. The 7.37 per cent 2014 paper opened at Rs 117.95/96 and got dealt lower at Rs 117.87.

Call rates remained at 4.25 per cent levels in the inter-bank market.

Meanwhile, in the seven-day repo under the LAF, RBI received and accepted 44 bids amounting to Rs 27,065 crore at the rate of 4.5 per cent, while 14 bids amounting to Rs 6,335 crore were received and accepted at the rate of 4.5 per cent in the fortnightly repo.

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