The Hindu Business Line : Rupee gains; gilts listless

MUMBAI: The spot rupee gained against the dollar on Tuesday, tracking trends overseas. The rupee opened at 43.51/53 and touched a high of 43.4905, before closing at 43.5350, against Monday's close of 43.56/57.

The forward premia market was range-bound and dull. The 12-month premium was between 1.32-1.34 per cent (1.35 per cent) and the 6-month premium between 1.50-1.52 per cent (1.56 per cent).

The bond market was range-bound, though prices ended slightly higher by 2-3 paise. The market sentiment was bearish, as there was investment buying by State-run banks, said a dealer with a private bank.

The 7.27 8-year 2013 paper, which is currently the most active, opened and closed at Rs 100.80 (7.14 per cent YTM) against Monday's level of Rs 100.70 (7.16 per cent YTM).

The 7.38 10-year 2015 benchmark paper closed 10 paise higher at Rs 101 (7.22 per cent YTM) against Monday's level of Rs 100.90 (7.25 per cent YTM).

The call rates were between 5.25 - 5.40 per cent (5.10-5.30 per cent).

In the one-day reverse repo auction, under the Liquidity Adjustment Facility, the RBI received and accepted 14 bids amounting to Rs 3,625 crore. The CBLO market saw 202 trades being put through in the rate range of 5.2-5.5 per cent amounting to Rs 7,188.35 crore.

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