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MUMBAI: The rupee depreciated on strong dollar demand on Tuesday to end at 43.50/51, from the previous close of 43.44/45.

The rupee opened at 43.51/52 and then remained largely range bound, witnessing no big trades. It touched an intra-day high of 43.48/49.

In the forward premia market, there was a fall with the 6-month premium closing at1.36 per cent (1.42) and the 12-month at 1.24 per cent (1.33).

The bond market was upbeat on improved liquidity. The auction of the 8.35 per cent 2022 paper saw a lot of bidding interest, said a chief dealer with a private bank. A fall of 3-4 basis points in the US yields also helped the Indian bond market, the dealer added.

The Finance Minister, Mr P. Chidambaram's statements on Government's intention to keep inflation and interest rates down saw some bit of movement both upward and downward. There was profit booking seen at every 10 paise movement, the dealer added.

The 7.55 10-year 2010 paper closed at Rs 103.52 (6.71 per cent YTM) against Saturday's close of Rs 103.20 (6.78 per cent YTM). The 7.38 10-year 2015 benchmark paper opened at Rs 102.70 (7 per cent YTM) and got dealt at Rs 103.40 (6.91 per cent) against the previous close of Rs 102. 70 (7 per cent TYM).

Call rates were unchanged between 5-5.10 per cent (5-5.10 per cent). In the one-day reverse repo auction, under the Liquidity Adjustment Facility, RBI received and accepted 42 bids amounting to Rs 23,900 crore. The CBLO market saw 196 trades being put through in the rate range of 2.5 to 5 per cent aggregating to Rs 9,776.05 crore.

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