Financial Daily from THE HINDU group of publications
Tuesday, Oct 18, 2005
Financial Daily from THE HINDU group of publications Tuesday, Oct 18, 2005 |
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Money & Banking
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Forex Rupee falls further; bonds lacklustre Our Bureau
MUMBAI: The rupee depreciated against the dollar on Monday, giving upp the early gains it made during the day. The domestic currency opened at 44.77/78. It, however, fell to close at 44.8750/8850, lower than Friday's close at 44.84/85. While a part of the demand was importer related, there was also offtake from foreign investors making use of the arbitrage opportunity between the onshore and offshore forward markets. In the forward market, the 12-month premium closed at 0.5 per cent (0.47) and the 6-month premium ended at 0.52 per cent (0.47). In the bond market, prices fell by around 10 paise and were lacklustre throughout the day. Traded volumes were thin at just Rs 355 crore. A dealer at a private bank said that ahead of the review of the monetary policy on October 25, no big positions were being taken. The 7.37-9 year-2014 paper opened at Rs 102.32 (7 per cent YTM) and closed at Rs 102.22 (7.02 per cent YTM), lower than Friday's Rs 102.29 (7 per cent YTM). The 10.25-16 year-2021 paper opened at Rs 125.40 (7.47 per cent YTM) and closed at Rs 125.39 (7.47 per cent YTM), down from Friday's closing at Rs 125.45 (7.46 per cent YTM). The 7.38-10 year-2015 benchmark paper was dealt at Rs 101.80 (7.12 per cent YTM), The call rate closed at 5-5.05 per cent. In the one-day reverse repo auction, the Reserve Bank of India received and accepted 33 bids amounting to Rs 17,205 crore. In the CBLO market, there were 279 trades for Rs 13,026.75 crore in the rate range of 4.85-5.05 per cent.
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