Financial Daily from THE HINDU group of publications
Thursday, Aug 18, 2005
Financial Daily from THE HINDU group of publications Thursday, Aug 18, 2005 |
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Money & Banking
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Forex Rupee steady; securities rise Our Bureau
MUMBAI: The rupee was range-bound against the dollar on Wednesday as demand matched supply. The rupee opened at 43.54/55 and ended trade at similar levels. On Tuesday, the currency had closed at 43.53. Strong inflows into the stock market could also aid the rupee, he added. In the forward premia market, the 12-month closed at 0.92 per cent (0.96 per cent) and the 6-month at 0.99 per cent (1.08 per cent). In the bond market, prices rose by 25-30 paise on the announcement of the Rs 8,000-crore auction of the 7.37 per cent government stock 2014 and the 7.50 government stock 2034 on Tuesday. A dealer at a private bank said there was some value buying. The Government's announcement that a hike in domestic fuel prices would take place only after August 26 also brought some respite from speculation, he added. However, prices fell by 10 paise in the closing hours due to profit booking. The 10.25-16 year-2021 paper opened at Rs 125.10 (7.50 per cent YTM) and closed at Rs 125.49 (7.47 per cent YTM), higher than Tuesday's close of Rs 125.24 (7.49 per cent). The 7.27-8 year-2013 paper opened at Rs 101.96 (6.94 per cent YTM) and ended at Rs 102.08 (6.92 per cent YTM), up from Tuesday's Rs 101.93 (6.95 per cent YTM). The 7.38-10 year-2015 benchmark paper was dealt at Rs 102.25 (7.07 per cent YTM), up from Tuesday's Rs 102.05 (7.09 pc YTM). The call rates closed at 4.90-5 per cent (5-5.05). In the one-day reverse repo auction, the RBI received and accepted 48 bids amounting to Rs 38,155 crore. In the CBLO market, there were 205 trades for Rs 8,82.70 crore in the rate range of 4.65-5 per cent.
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