Financial Daily from THE HINDU group of publications
Thursday, Apr 21, 2005
Financial Daily from THE HINDU group of publications Thursday, Apr 21, 2005 |
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Money & Banking
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Forex Rupee in tight range; bond prices move up Our Bureau
MUMBAI: The rupee traded in a tight range on Wednesday, ending at 43.75/76, almost unchanged from Tuesday's close of 43.76/77 against the US dollar. Dealers said there were very few speculative trades in the forex market due to concerns over the volatility in the capital markets. The forward premia market closed slightly lower, with the 12-month premium closing at 1.45 per cent (1.55 per cent) and the six-month at 1.75 per cent (1.83 per cent). In the bond market, the 8.07 per cent, 2017, 12-year paper was the most actively traded one. On Wednesday, the paper ended at Rs 105.10 (7.41 per cent YTM), against Tuesday's close of Rs 104.80. The paper opened slightly low on Wednesday at Rs 104.6570, because of the rise in oil price. But in the afternoon it went up and gained between 30-40 paise in intra-day trade. The 7.38 per cent, 2015, 10-year benchmark paper closed at Rs 102.15 (7.05 per cent YTM), against Tuesday's close of Rs 102.30 (7.06 per cent). It opened at Rs 102.15. The 6.85 per cent, 2012, seven-year paper traded between Rs 99.70 at the lower levels and between Rs 99.98 at the upper levels. This paper was active last week. The long-end MIFOR-based Overnight Interest Swaps opened at 6.56-6.58 per cent and closed at 6.52-6.53 per cent. Call rates were unchanged at 4.75 per cent-4.80 per cent. In the one-day reverse repo under the Liquidity Adjustment Facility, the RBI received and accepted 37 bids amounting to Rs 31,450 crore. The CBLO market saw 143 trades aggregating Rs 4,242.90 crore in the rate range of 4.50 to 4.80 per cent.
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