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MUMBAI: The rupee weakened against the greenback on Tuesday on account of dollar buying. The domestic currency opened at 43.83/84 and touched an intra-day low of 43.95. It recovered slightly to close at 43.89/90, down from Monday's 43.81.

Dealers said the rupee depreciated due to dollar buying in the non-deliverable forward market. There was also very little FII-related inflows, they said.

In the forward market, the 6-month closed at 0.42 per cent (0.52/53) and the 12-month at 0.55 per cent (0.61).

The bond market was flat with very low volumes. Bond prices opened at the same level as Monday's close and rose in the latter half of the day by 5-10 paise, said dealers.

The much-awaited hike in domestic fuel prices did not impact the bond market much, as it was already factored in. Dealers also said the cut-off for the 91-day T-bills, at 5.16 per cent pushed prices up, as it was much lower than expected.

The 10.25 16 year-2021 paper opened at Rs 126.45 (7.38 per cent) and closed at Rs 126.49 (7.37 per cent), up from Monday's level of Rs 126.41 (7.38 per cent YTM).

The 7.37 per cent 9-year 2014 paper opened at Rs 102.50 (6.98 per cent YTM) and ended trade at Rs 102.58 per cent (6.96 per cent YTM), a shade higher than the earlier close of Rs 102.55 (6.97 per cent YTM).

The 7.38 per cent 10-year benchmark was dealt at 7.01 per cent YTM (7.03 per cent YTM).

Call rates were unchanged at 4.9-5 per cent. In the one-day reverse repo auction, RBI received and accepted 49 bids amounting to Rs 48,755 crore.

In the CBLO market, there were 232 trades for Rs 11,439.65 crore in the rate range of 4.67-4.9 per cent.

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