The Hindu Business Line : Rupee firmer; bond prices fall

The rupee is expected to move within a range of 43.65-43.75 this week, said a dealer at a private bank. The market is looking towards the Credit Policy and the US Federal Open Market Committee (FOMC) meeting, which is scheduled for May 2.

In the forward premia market, the 12-month premium closed at 1.47 per cent while the 6-month premium closed at 1.65 per cent.

The bond market saw thin trade and bond prices fell ahead of the news about the possible hike in domestic fuel prices. The government auction worth Rs 10,000 crore that is to take place in the first week of May was another concern.

The 8.07 per cent, 12 year-2017 paper, which is currently the most actively traded paper closed lower at Rs 104.65/70 (7.47 per cent YTM). It had ended at Rs 105.10(7.40 per cent YTM) on Thursday.

The 7.38-10 year-2015 benchmark paper saw fewer trades. It also closed lower at Rs 101.86 (7.12 per cent YTM). It had finished at Rs 102.25 (7.08 per cent YTM).

Call rates remained unchanged at 43.75/80. In the one-day reverse repo under the liquidity adjustment facility, the RBI received and accepted 34 bids amounting to Rs 29,515 crore. The CBLO market saw 158 trades aggregating Rs 5,610.95 crore in the rate range of 4.60 per cent to 4.95 per cent.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rupee firmer; bond prices fall

KSFE sets aside Rs 30 cr for computerisation

i-flex tool for BMO Group

Wage revision in PSU insurers put on hold

Micro financing — NGOs can raise ECB up to $5 m

`Specialised branches on the way out'

Andhra Bank part-time director's term ends

Oriental Bank issue oversubscribed on Day 1

Banks in AP surpass credit targets

Exim Bank loan disbursement up 64% in 2004-05

RBI moots self-regulatory body for card issuing banks

Dena Bank raises term deposit rates

`Average earner is risk averse'