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MUMBAI: The rupee and the bond markets continued their downturn on Thursday. The rupee ended at 43.6550/6650 against the US dollar slightly lower than Wednesday's close of 43.62/63 on moderate dollar buying.

Dealers said that the rupee, which opened at 43.67/68, moved up to touch an intra-day high of 43.62/63 and then edged down. Though FII inflows had dipped, the mood was positive in the market. The State-owned banks were active.

The forward premia market saw some downward movement, with the 6-month premium closing at 1.47 per cent (1.54 per cent) and the 12-month at 1.30 per cent (1.34 per cent).

The bond market was down on concerns over the spiralling oil prices. The 7.38 per cent 10 year benchmark paper closed at Rs 105.10 (6.69 per cent YTM) as against Wednesday's close of Rs 105.62 (6.64 per cent YTM). According to a dealer at a private bank, "Oil prices have crossed $ 57.30 per barrel. The continued rise in prices will reflect itself in the inflation rate. This has been a major concern in the bond market."

In the one-day reverse repo under the Liquidity Adjustment Facility, RBI received and accepted 42 bids amounting to Rs 36, 155 crore. Call rates closed at 4.7880 (4.75 per cent). In the CBLO market, 189 trades aggregating Rs 5,385.65 crore was put through in the rate range of 4.00 to 5.00 per cent.

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