The Hindu Business Line : Rupee tad lower; bond prices fall

MUMBAI: The rupee ended at 43.62/63 against the US dollar on Wednesday, marginally lower than Tuesday's close of 43.5850. Dealers said the rupee, which opened at 43.61, did not see much movement.

The rupee went down to 43.64/65 before closing. Reserve Bank Of India bought dollars during the day, but later on sold dollars just before the markets closed, at 4 p.m., said a dealer with a private broking house. The forward premia market saw minor upward movement, with the 6-month premium closing at 1.54 per cent (1.50 per cent) and the 12-month premium closing at 1.34 per cent (1.35 per cent).

The bond market was down on continued worries of rising oil price. The 7.38 per cent 10-year benchmark paper closed at Rs 105.62 (6.64 per cent YTM) on Wednesday as against Tuesday's close of Rs 106.04 (6.57 per cent YTM). It had opened at Rs 105.80 (6.61 per cent YTM). According to a dealer at a private bank, "The markets are dull on account of the nearing of the Central Government's borrowing calendar which will be announced in the third or fourth week of March."

In the one-day reverse repo under the Liquidity Adjustment Facility, RBI received and accepted 50 bids amounting to Rs 37,885 crore.

Call rates closed at 4.75 per cent (5 per cent). In the CBLO market, 144 trades aggregating Rs 4369.85 crore was put through in the rate range of 4.10 to 5 per cent.

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