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Our Bureau

MUMBAI: The rupee closed at 45.0650/0750 on Thursday, over nine paise lower than Wednesday's close of 44.97/99 against the dollar.

Huge buying interest was observed during early trading hours by foreign banks such as Deutsche Bank and Standard Chartered Bank. Corporates and PSU banks were sellers.

Overseas strengthening of the dollar against major currencies such as the euro has also resulted in the rupee's mild fall.

Intra day the domestic currency touched a high of 44.98/99 and a low of 45.09/10.

In the forwards market the premiums were up by about 20 to 23 basis points by way of bookings for importer cover and sell buy swaps. Dealers say premiums are likely to inch up further. The six-month forward closed at 0.46 per cent (0.23 per cent) and the one-year forward closed at 0.45 per cent (0.25 per cent).

The bond prices fell in the short end intra-day but later recovered. The benchmark 8.07 per cent 2017 paper opened at Rs 121.30/32, touched a low of Rs 120.65 and recovered slightly to close at Rs 120.90 with YTM 5.71 per cent. The call rates were easy at 3.90 - 4.10 per cent on account of selling pressure in the market and also heavy buying in the forex market.

Under the LAF window the RBI received and accepted 34 bids amounting to Rs 8,125 crore.

More Stories on : Forex | Govt Bonds

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