The Hindu Business Line : Rupee firms up; securities weak

The domestic currency opened at 43.87 and touched an intra-day high of 43.8450 and a low of 43.90. The rupee closed at 43.87/88, up from Thursday's level of 43.89/90.

Dealers said that demand from oil importers and other corporates caused the rupee to touch a low of 43.90. However, dollar inflows enabled the rupee to recover.

A dealer at a private bank said that the volumes were not very high.

In the forward market, the 12-month closed at 0.65 per cent (0.62 per cent) and the 6-month closed 0.65 per cent (0.55 per cent).

In the bond market, prices weakened by 10-25 paise, but recovered by 5-8 paise before closing.

Dealers said that prices fell as a result of the US yields hardening on account of a data which showed that the country's oil reserves were lower than expected.

However, a slight recovery towards the end of the day was attributed to some value buying.

The 10.25-16 year-2021 paper opened at Rs 126.60 (7.36 per cent YTM), touched a low of Rs 126.35 and closed at Rs 126.44 (7.38 per cent YTM).

The 7.37-9 year-2014 paper opened at Rs 102.69 (6.95 per cent YTM), fell to Rs 102.61 and ended at Rs 102.66 (6.95 per cent).

The 7.38-10 year-2015 paper was dealt at Rs 102.40 (7.04 per cent YTM) against Thursday's Rs 102.75 (6.99 per cent YTM).

The call rates closed at 4.95-5.05 per cent (5-5.05 per cent). In the three-day reverse repo auction, the RBI received and accepted 42 bids amounting to Rs 30,780 crore. In the CBLO market, there were 229 trades for Rs 8,381.35 crore.

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