Financial Daily from THE HINDU group of publications
Tuesday, Dec 06, 2005
Financial Daily from THE HINDU group of publications Tuesday, Dec 06, 2005 |
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Money & Banking
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Forex Rupee declines; bond prices rise Our Bureau
MUMBAI: The rupee further depreciated against the greenback on Monday on the back of heavy dollar demand and a fall in the domestic stock market. The currency opened at 46.27/28 and touched an intra-day low of 46.39. It closed the day at 46.3250/3350, down from Friday's close at 46.18. Dealers said besides import-related demand, traders were looking at an arbitrage opportunity by buying dollars in the non-deliverable forward market. A dealer at a private bank said that the the price of global crude rising to $60 a barrel also dampened sentiment in the forex market. In the forward premia market, the six-month closed at 0.68 per cent (0.80) and the 12-month at 0.57 per cent (0.68). In the bond market, prices rose by around 20 paise on the back of improved liquidity in the system. A dealer at a private bank said that nationalised banks were big buyers in the market. The traded volume was Rs 11,646 crore. The 10.25-16 year-2021 paper opened at Rs 125.90 (7.41 per cent YTM) and closed at Rs126.11 (7.39 per cent YTM), higher than Friday's Rs 125.93 (7.41 per cent YTM). The 7.49-12 year-2017 paper opened at Rs 101.95 (7.23 per cent YTM) and ended at Rs 102.10 (7.21 per cent YTM), up from Friday's close at Rs 101.995 (7.23 per cent YTM). The call rate closed at 5.20-30 per cent. In the first three-day reverse repo auction,, the Reserve Bank of India received and accepted 19 bids amounting to Rs 15,320 crore. In the second auction, it received and accepted 27 bids for Rs 5,315 crore. In the CBLO market, there were 259 trades for Rs 11,252.15 crore in the range of 5.16-5.35 per cent.
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