Financial Daily from THE HINDU group of publications
Tuesday, Nov 15, 2005
Financial Daily from THE HINDU group of publications Tuesday, Nov 15, 2005 |
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Money & Banking
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Forex Rupee declines; bonds shed gains Our Bureau
MUMBAI: The rupee depreciated against the greenback on the back of dollar buying by corporates. The domestic currency opened at 45.67/68, touched an intra-day high of 45.59/60. However, it closed at 45.73, lower than Friday's level of 45.68/69. The domestic unit appreciated initially on supply of dollars. A dealer at a private bank said that the supply of dollars could have been mainly due to inter-bank trading. However there were corporate importers buying in the market, which led to the rupee to end lower. In the forwards market, the 6-month premium closed at 0.47 per cent (0.53 per cent) and the 12-month premium ended at 0.42 per cent (0.45 per cent). Bond market prices rose initially but shed gains due to profit taking. Dealer said that bond prices rose as the call rates eased slightly to 6.25-6.35 per cent after breaching past 7 per cent on Friday. The 7.37 per cent-9 year-2014 paper opened at Rs 102.47 (6.97 per cent YTM), touched a high of Rs 102.56 and closed at Rs 102.50 (6.97 per cent YTM). On Friday, it had closed at Rs 102.46 (6.98 per cent YTM). The 7.49 per cent-12 year-2017 paper, that was recently auctioned, opened at Rs 101.54 (7.29 per cent YTM), went up to Rs 101.71 and ended at Rs 101.58 (7.28 per cent YTM). It had ended trade on Friday at Rs 101.49 (7.29 per cent YTM). The call rates closed at 6.30-6.50 (6.75 per cent). In the two-day reverse repo, under the LAF, the RBI received and accepted six bids amounting to Rs 835 crore. In the two-day repo auction, the RBI received and accepted three bids amounting to Rs 1,900 crore. In the CBLO market, there were 297 trades for Rs 11,270.90 crore in the rate range of 6.10-6.35 per cent.
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