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MUMBAI: The rupee opened lower against the dollar at 43.94/95 and stayed at those levels, until news that China was widening the yuan's trading range came in.

The rupee then recovered to end trade at 43.90/91, a tad higher than the previous close of 43.92/9250.

On Friday, China widened the yuan's trading band against non-dollar currencies to 3 per cent from 1.5 per cent. Dealers said this would not affect the rupee much.

There was consistent supply of dollars during the day.

In the forward premia market, the 6-month premium closed at 0.84 per cent (0.87 per cent) and the 12-month premium ended at 0.81 (0.78 per cent).

Prices in the bond market were headed downwards for a major part of the day, on higher inflation and tightness in call rates. However, the yuan news and fall in prices brought in fresh buying, which pushed prices up.

There was lack of buying support and volumes were low during the first half of the day.

Prices fell by 30 paise intra-day, however the net loss at the end of trade was 15-20 paise, said a dealer with a private bank.

The 10.25-16 year-2021 paper opened at Rs 126.21 (7.4 per cent YTM) and ended at Rs 125.98 (7.42 per cent YTM) against the previous close of Rs 126.13 (7.40 per cent YTM).

The 7.37-9 year-2014 paper opened at Rs 102.54 (6.99 per cent YTM) and closed at Rs 102.45 (6.98 per cent YTM), slightly lower than Thursday's close of Rs 102.50. (6.98 per cent YTM). The 7.55-5 year 2010 paper opened at Rs 103.76 (6.59 per cent YTM) and closed at Rs 103.73 (6.6 per cent YTM).

The call rate was dealt at levels of 5.25 per cent and even at 5.3 per cent, but closed at 5.10-5.20 per cent (5.10-5.15 per cent). In the one-day reverse repo auction, the RBI received and accepted 21 bids amounting to Rs 9,725 crore.

In the CBLO market, there were 258 trades for Rs 11,544 crore in the rate range of 4.75-5.15 per cent.

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