The Hindu Business Line : Rupee steady; gilts lacklustre

MUMBAI: The rupee market was dull with no triggers to cause strong movement in either direction. Trading was listless as dollar inflows matched outflows, said dealers.

The rupee opened at 43.51 today, touched a low of 43.53 in intra-day trade, before closing at 43.51 against the US dollar, marginally up from Tuesday's level of 43.5350.

The dollar strengthened against currencies like euro and sterling in the The 12-month premium closed at 1.35 per cent (1.34 per cent) and the 6-month at 1.51 per cent (1.52 per cent).

In the bond market, prices moved in 10-paise range. Dealers said tightening liquidity as well as the crude prices at $ 60.75 per barrel remained a concern.

The 7.27-8 year-2013 paper, currently the most active, opened at Rs 100.65 (7.16 per cent YTM) and closed at Rs 100.70/75 (7.1450 per cent YTM), down from Tuesday's close at Rs 100.80 (7.14 per cent YTM).

The 7.38 - 10 year-2015 benchmark paper was dealt at Rs 101.91 (7.11 per cent YTM), up from Tuesday's Rs 101 (7.22 per cent YTM).

The 7.55 - 5 year-2010 paper opened at Rs 103.05 (6.80 per cent YTM) and closed at Rs 103.15 (6.77 per cent YTM).

The call rate closed at 4.95 per cent (5.25-5.40) but many deals were done at 5.25 per cent. In the one-day reverse repo auction, under the Liquidity Adjustment Facility, RBI received and accepted 13 bids amounting to Rs 3,675 crore. The CBLO market saw 187 trades in the 4.90-5.30 per cent range, amounting to Rs 7,765.70 crore.

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