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Our Bureau

MUMBAI: The rupee weakened against the US currency on Monday on month-demand for dollars.

The local currency opened at 43.94/95 and crept up to 43.9350. It, however, closed at 43.96, lower than Friday's close at 43.90/91.

Import related payments fuelled demand for dollars. The supply of dollars through the FII inflows also did not match up to the demand, they said.

In the forward market, the 6-month premium closed at 0.85 per cent (0.84) and the 12-month at 0.76 per cent (0.81).

In the bond market, prices fell by around 15 paise as there was no buying support.

A dealer at a private bank said with the liquidity in the system drying up and inflation rising, there were no positives.

According to dealers, the traded volume in the market was thin.

The 7.37-9 year - 2014 opened at Rs 102.58 (6.96 per cent YTM) and closed at Rs 102.43 (6.99 per cent YTM), down from Friday's Rs102.45 (6.98 per cent YTM). The 10.25-16 year-2021 paper opened at Rs 126.13 (7.40 per cent YTM) and ended at Rs 126 (7.42 per cent YTM), lower than Friday's close at Rs 125.98 (7.42 per cent YTM).

The 7.38-10 year-2015 paper was dealt at Rs 102.71 (6.99 per cent YTM).

The call rate closed at 5-5.10 per cent (5.10-5.20). In the one-day reverse repo auction, the RBI received and accepted 34 bids amounting to Rs 18,460 crore. In the CBLO market, there were 293 trades for Rs 12,773.50 crore in the rate range of 4.85-5.10 per cent.

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