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

Our Bureau

MUMBAI: The rupee ended the day seven paise stronger on Wednesday to close at 45.6250 against the previous close of 45.69/70 against the dollar.

There were good dollar inflows in the market by way of FIIs and exporter receivables. The central bank was seen intervening at 45.62 levels, said dealers.

The domestic currency opened the day at 45.6250 touched an intra-day high and intra-day low of 45.67 against the greenback. In the forwards market, the six-month premium closed at - 0.16 per cent (-0.27 per cent) and the one-year closed at 0.16 per cent (0.12 per cent).

Security prices witnessed an upward trend by about 40-90 paise across maturities as the central bank displayed its willingness to take devolvement of the forthcoming auction.

RBI rejected all the underwriting bids put up by the primary dealers, which the market took as a positive sign, said the chief dealer in a bond house.

The 7.46 per cent 2017 paper opened at Rs 116.20 and closed at Rs 117.10. The 10-year benchmark the 7.27 per cent 2013 paper closed at Rs 116 with a corresponding yield of 5.16 per cent, down from Tuesday's closing yield of 5.20 per cent. Said a dealer, "... we now expect the 10-year to touch the 5.10 per cent level."

Inter-bank call money rates were comfortable at 3.75-4 per cent and all bids worth over Rs 31,000 crore were accepted through the LAF window at the repo rate of 4.5 per cent.

Article E-Mail :: Comment :: Syndication

Stories in this Section
The missing linkages for borrowers

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