The Hindu Business Line : Rupee up 12 paise; bonds lacklustre

Dealers said that the rupee was largely tracking the movement of the greenback against the euro. "Once again it looks like the euro gained some ground against the dollar, therefore, the rupee subsequently got the lead on the greenback," said a dealer with a private sector bank.

The strengthening in other Asian currencies was also giving a boost to the rupee, he said. In the forwards market, the six-month premium ended at 2 per cent, while the one-year premium ended at 1.52 per cent.

Bond prices remained range-bound in a lacklustre Government securities market. Dealers said most participants had unwound positions ahead of the inflation announcement awaited on Friday.

The benchmark 10-year paper, the 7.38 per cent 2015, was dealt largely unchanged from its previous closing levels at Rs 106.17 (at 6.5653 yield to maturity).

Call rates remained steady at 4.75 per cent in the inter-bank market. In the one-day repo under the liquidity adjustment facility, RBI has received and accepted 33 bids amounting to Rs 12,840 crore at the rate of 4.75 per cent.

In the CBLO market, 108 trades were conducted amounting to Rs 2,946.30 crore in the rate range of 4.64 per cent - 4.80 per cent.

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