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MUMBAI: The rupee closed around five paise lower on Friday, at Rs 43.72/73 against the greenback, driven down by a strong bout of dollar buying in the market by state-run banks. After opening at Rs 43.71/73, the rupee got dealt to a high of Rs 43.63/64, at which level state-run banks started buying dollars, a dealer at a private bank said.

In the forwards market, the six-month premium closed higher at 1.65 per cent (1.61 per cent), while the 12-month premium closed at 1.40 per cent (1.43 per cent).

Bond prices remained in a tight range in a lacklustre government securities market.

The 10-year benchmark paper, 7.38 per cent 2015 paper opened at Rs 106.60 (6.50 per cent YTM), reached an intra-day high of Rs 106.70 and closed at Rs 106.68/70 (6.49 per cent YTM), the dealer said.

"The inflation rate also remained unchanged from its previous levels at 5.01 per cent, for the week ended February 12 and so there wasn't much of a trigger for a movement in bond prices," said a dealer.

Though the economic survey brought a slight comfort, the market went down by 10 paise. The market is now waiting for the Budget," he said.

In the inter-bank market, call rates remained unchanged at 4.80-4.85 per cent, the dealer said.

In the three-day reverse repo auction under the LAF, the RBI received and accepted 43 bids amounting to Rs 26,575 crore, at the rate of 4.75 per cent.

In the CBLO market, 131 trades aggregating Rs 4,860.2 crore was put through in the rate range of 4.25 per cent to 4.70 per cent.

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