Financial Daily from THE HINDU group of publications
Saturday, Jun 25, 2005
Financial Daily from THE HINDU group of publications Saturday, Jun 25, 2005 |
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Money & Banking
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Forex Rupee tad higher; bond prices fall Our Bureau
MUMBAI: The rupee firmed up against the dollar on Friday as steady dollar inflows negated the effect of importers buying that currency. The domestic currency opened at 43.60/61 and saw an intra-day high of 43.50. It finally closed at 43.53/54, higher than Thursday's close at 43.55/56. In the forward premia market, the 12-month premium closed at 1.25 per cent (1.27) and the six-month closed at 1.35 per cent (1.44). In the bond market, prices fell by 30-40 paise, as there was no buying support in Thursday's Government auction. Dealers said Thursday's Rs 5,000-crore auction did not see LIC bidding aggressively. Most of it was picked up by traders, which led to some sell off on Friday. The price of crude was a concern in the bond market. The 8.07-12 year-2017 paper opened at Rs 109.40 (6.88 per cent YTM) unchanged from Thursday's close. It closed on Friday at Rs 109.02 (6.92 per cent YTM). The 7.38-10 year-2015 benchmark paper opened at Rs 104 (6.83 per cent YTM) and closed at Rs 103.75 (6.86 per cent YTM). It closed at Rs 104.15 (6.8067 per cent YTM) on Thursday. The call rate inched up to close at 5.10-5.15 per cent (4.95-5.05). In the three-day reverse repo auction, under the liquidity adjustment facility, the RBI received and accepted 23 bids amounting to Rs 9,670 crore. The CBLO market saw 182 trades being put through in the rate range of 1.50-5.25 per cent aggregating to Rs 6,170.85 crore.
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