• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

MUMBAI: The rupee ended stronger on Friday at 45.87/88, gaining 5 paise over Thursday's closing of 45.93.

After opening at 45.91/9150, the domestic currency slipped to an intra-day low of 45.94, dealers said.

"A large private sector bank and a leading foreign bank were mopping up substantial dollars from the market,'' said a dealer with a private sector bank.

However, towards the close, some banks came in and sold greenbacks, taking the rupee back up where it ended.

Meanwhile, forwards inched up on the back of RBI intervention, according to dealers. "RBI was paying heavily in the forwards, probably they did not want the premium to go very low so fast,'' a dealer said.

The six-month premium ended at 1.26 per cent (1 per cent) and the premium for one-year ended at 1.04 per cent (1.06 per cent).

Bond prices lost around 10-20 paise across some maturities in a thin government securities market.

According to dealers, the market was in a cautious mode ahead of the Rs 5,000 crore OMO scheduled for Monday, but a few stray deals took place.

The 7.27 per cent 2013 paper closed at Rs 115.32 as compared to Thursday's close of Rs 115.41. The 6.35 per cent 2020 closed at Rs 105.54 as compared to the previous close of Rs 105.72.

Call rates hovered at 4.60 per cent levels in the inter-bank market.

In the three-day repo under LAF, RBI received and accepted 42 bids amounting to Rs 17,645 crore at the rate of 4.50 per cent.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Rupee gains 5 paise — Securities decline

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