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Our Bureau

MUMBAI: The rupee continued to be bogged down by the growing dollar demand from oil majors, but closed almost unchanged from its previous levels.

The domestic currency closed at 45.85/86 on Thursday, as against 45.8650 on Wednesday.

"The rise in international oil prices will continue to translate into incremental demand for the greenbacks in the local forex market, and the rupee will continue to be impacted to that extent," dealers said.

The RBI Governor's statement that the central bank will use the forex reserves if necessary, to meet oil demand, assuaged sentiment in the market, dealers added.

After opening at 45.87/89, the rupee fell to an intra-day low of 45.91 on the back of significant dollar demand.

Some dollar sales by State-run banks propped up the rupee to 45.8350. Doll0ar buying emerged once again, which took the rupee down a notch at closing.

Bond prices traded in a 25 paise band in a lacklustre Government securities market.

The 6.65 per cent 2009 paper opened at Rs 101.25 and got dealt up to Rs 101.45, before closing at Rs 101.35. The 7.38 per cent 2015 opened at Rs 106.40 and got traded up to Rs 106.55.

Call rates remained at 4.50 per cent levels.

In the seven-day repo under the LAF, the RBI received and accepted 5 bids amounting to Rs 590 crore at the rate of 4.50 per cent. In the one-day repo, the RBI received and accepted 25 bids amounting to Rs 7,870 crore.

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