Financial Daily from THE HINDU group of publications
Saturday, Dec 03, 2005
Financial Daily from THE HINDU group of publications Saturday, Dec 03, 2005 |
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Money & Banking
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Forex Rupee weakens; bond prices fall Our Bureau
MUMBAI: The rupee depreciated against the dollar on Friday, in tandem with other major currencies and on the back of importer demand. The domestic currency opened at 46.11, lower than Thursday's close at 46.00/01. It touched an intra-day low of 46.24 and closed the day at 46.18. In the forward premia market, the 6-month premium closed at 0.80 (0.85) and the 12-month ended at 0.65 (0.68). In the bond market, prices were weaker than Thursday's close on account of the announcement of the Rs 8,000-crore government auction next week. The traded volume was thin at Rs 935 crore However, bond prices recovered during the day with signs of improved liquidity in the system. A dealer at a private bank said the domestic inflation data at 4.32 per cent was lower than expected. The 7.49 per cent-12 year-2017 paper opened at Rs 101.95 (7.23 per cent YTM) and closed at Rs 101.995 (7.23 per cent YTM), against Thursday's 7.219 per cent YTM. The 10.25-16 year-2021 paper opened at Rs 125.85 (7.41 per cent YTM) and ended at Rs 125.93 (7.41 per cent YTM), lower than Thursday's close at Rs 125.96. The call rate closed at 5.25-5.3 per cent. In the first three-day reverse repo auction at the liquidity adjustment facility, the RBI received and accepted 14 bids amounting to Rs 9,665 crore. In the second auction, it received and accepted 19 bids for Rs 7,210 crore. In the CBLO market, there were 311 trades for Rs 12,380.2 crore in the range of 5.05-5.35 per cent.
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