The Hindu Business Line : Rupee steady; gilts in range

MUMBAI: The rupee marginally weakened against the dollar on Wednesday on the overnight strengthening of the greenback against major currencies, but ended nearly unchanged at 43.49/50, from Tuesday's 43.49.

A dealer at a private bank said the market was concerned about an FII backlash in view of the Swiss major UBS being barred from the stock market. Trade deficit figures were also a dampener. In the forward premia market, the six-month premium closed at 1.5 per cent (1.55), while the 12-month premium ended at 1.42 per cent (1.35)

The bond market showed some downward movement. Dealers said, following Tuesday's State loan auction, bond prices opened about 3 to 4 paise higher, but profit-booking pulled the market down.

The 7.38-10 year-2015 benchmark paper was more active than the other papers. A dealer at a private bank said the current 7.15 per cent yield on the paper created buying interest.

It opened at Rs 101.60 (7.155 per cent) and ended at Rs 101.64 (7.15 per cent YTM), up from Tuesday's close at Rs 101.55/60 (7.16 per cent YTM).

The 7.55-5 year-2010 paper was traded at Rs 103.10 (6.80 per cent YTM) and closed lower at Rs 102.98 (6.83 per cent YTM), lower than Tuesday's close at Rs 103.08 (6.81 per cent YTM).

Call rates were steady at 4.95-5.05 per cent. In the one-day reverse repo, under the liquidity adjustment facility, the RBI received and accepted 39 bids amounting to Rs 23,515 crore. The CBLO market saw 163 trades aggregating Rs 8,876.20 crore, in the rate range of 4.85-4.99 per cent. This is the highest volume the CBLO market has seen.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bank of Rajasthan to raise funds abroad

Rupee steady; gilts in range

RBI cancels licence

Karnataka Bank in Ranchi

ICICI Bank plans to increase presence in rural areas

NPAs in the shopping cart

T-bill auctions fully subscribed

Steady investments by RBI, institutions — US treasury holdings at record $18.4 b in March

IDFC files draft prospectus for IPO

Kerala gets Rs 1,252 cr in co-op recoveries

United Bank hopes to achieve Rs 50,000-cr business in 2 years