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MUMBAI: THE rupee ended marginally stronger on Friday at 48.66/67 against the dollar as compared to the previous close of 48.6850/6950 in a fairly lacklustre forex market.

The rupee opened at 48.6850/6950 and touched an intra-day low of 48.7250 driven by some dollar demand from foreign banks. Following this, State-run banks sold dollars and the currency recovered to end at closing levels.

Meanwhile, forwards rose slightly with the six-month premium ending at 5.44 per cent (5.33 per cent) and the premium for one year ending at 5.26 per cent (5.11 per cent).

Bond prices were down as there were not much deals put through due the teething problem faced by NDS. Prices in the longer end dipped by around 70-80 paise as compared to pre-auction levels. However, during the day, prices recovered by 30-40 paise.

The 11.50 per cent 2011 paper, which was at around Rs 129.75/85 prior to the auction, touched a low of Rs 129.20/24, before bouncing back to 129.50.

The 11.03 per cent 2012 paper, which was at levels of Rs 127.40/50 before the auction, touched a low of Rs 127.04, before closing at 127.18.

The auction paper of 8.07 per cent 2017 paper, which was re-issued at Rs 108.06 fell to a low of Rs 107.60.

In the inter-bank call money market, the call rates touched a high of 6.65-6.75 per cent before closing at around 6.50-6.60 per cent.

In the one-day repo auction, the RBI received and accepted eight bids of Rs 5,650 crore at 6.50 per cent.

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