Financial Daily from THE HINDU group of publications
Wednesday, Feb 19, 2003
Money & Banking
Re up 6 paise; gilts weak
Mumbai: THE rupee ended almost 6 paise stronger on Tuesday at 47.7050/7150 against the dollar as compared to Monday's close of 47.7600/7700 in the local currency markets.
The supplies of dollar were steady in spite of the markets being closed in New York on Monday. That, combined with the lack of demand for the greenback, helped perk up the domestic currency, said forex dealers.
The rupee opened at 47.7550/7650, which was the intra-day low and the close was intra-day high.
In the forwards market, the premia were a tad higher on account of inter-bank trading, said a forex dealer in a private-sector bank.
The six months premium ended at 3.50 per cent, up from Monday's 3.45 per cent and the one-year premium closed at 3.50 per cent, up from 3.45 per cent.
G-sec prices were on a downswing falling by 10-50 paise depending on the maturity of the paper.
With Iraq tensions still lurking in the air and profit-booking by several players, bond prices rose intra-day only to drop later, said a trader in a primary dealer.
The ten-year benchmark, 9.81 per cent 2013 paper closed at Rs 125.00 with a yield of 6.44 per cent after opening at Rs 126.40/45
On the longer-end, the 8.07 per cent 2017 paper closed lower at Rs 112 after opening at Rs 113.10/20.
In the inter-bank call money market, the call rates were easy on account of comfortable liquidity. The call rates ended at 5.35-5.50 per cent.
Through the LAF window, the central bank accepted all 18 bids worth Rs 6,350 crore at the repo rate of 5.50 per cent.
Stories in this Section
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line