Financial Daily from THE HINDU group of publications
Saturday, Jul 16, 2005
Financial Daily from THE HINDU group of publications Saturday, Jul 16, 2005 |
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Money & Banking
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Forex Rupee tad higher; bond prices rise Our Bureau
MUMBAI: The rupee marginally strengthened against the dollar on Friday. day. The rupee opened at 43.51/52 and ended at the same level, slightly higher than Thursday's close at 43.53. With dealers anticipating a rate hike in the upcoming quarterly review of the monetary policy and the FII inflow to ebb, the expectations are that the rupee will depreciate. In the forward premia market, the 12 month and the 6 month remained unchanged at 1.32 per cent and 1.48 per cent respectively. In the bond market, prices rose 15 to 20 paise on buying support. Dealers said with liquidity staying comfortable and the price of crude easing to $58.17, there was some buying support. The 7.27-8 year-2013 paper opened at Rs 100.80 (7.14 per cent YTM), moved up to Rs 101.15 (7.08 per cent YTM) and closed the day at Rs 101.07 (7.09 per cent YTM). On Thursday, it had ended at Rs 100.88/93 (7.12 per cent YTM). The 7.38-10 year-2015 paper opened at Rs 101.20 (7.21 per cent YTM) and closed at Rs 101.50/55 (7.17 per cent YTM). The call rate was at 5-5.10 per cent (4.95-5.5). In the three-day reverse repo auction, under the Liquidity Adjustment Facility, the RBI received and accepted 20 bids amounting to Rs 7,365 crore. The CBLO market saw 210 trades being put through in the 4.95-5.48 per cent range, amounting to Rs 9,776.15 crore.
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