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Our Bureau

MUMBAI: The rupee slightly weakened against the dollar on Monday on demand from oil importers and other corporates.

It opened at 43.53/53 and touched an intra-day low of 43.55 before ending the day at 43.54/55, lower than Friday's close at 43.51/52. Dollar supply from foreign investors was robust as was evident from the 75-point rise in the BSE Sensex. However, there was demand for dollars from oil importers and other corporates.

In the forward premia market, the 12-month premium closed at 1.32 per cent (1.32 per cent) and the six-month premium at 1.50 per cent (1.48 per cent).

The bond market saw prices moving up from 30-40 paise to Rs 1.50 on account of comfortable liquidity, increased flow in repo auctions, and a higher-than-expected cut-off price in the auction of the 10.25 per cent Government Stock 2021 paper, said dealers.

The bond prices went up because of buying by State-run banks, primary dealers and mutual funds.

The 7.55 five-year 2010 benchmark paper opened at Rs 103.15 (6.77 per cent YTM) and ended trade at Rs 103.35/40 (6.72 per cent YTM) against the previous close of Rs 103.14.

The most active 7.27 per cent eight-year 2013 paper opened at Rs 100.90 (7.12 per cent YTM) and closed at Rs 101.38 (7.04 per cent), up from Friday's close of Rs 101.07 (7.09 per cent YTM). Yields on the 7.38 per cent 10-year benchmark eased from Friday's level of 7.21 per cent to 7.14 per cent on Monday.

The cut-off price on the 10.25 per cent 16-year 2021 paper was Rs 122 (7.8 per cent), higher than the market expectations of Rs 121.50. Call rates opened at 5-5.1 per cent and closed at 4.75 per cent (5-5.10 per cent).

In the one-day reverse repo auction, under the liquidity adjustment facility, the Reserve Bank of India received and accepted 35 bids amounting to Rs 17,450 crore.

The CBLO market saw 225 trades being put through in the 4.65-5.00 per cent range, amounting to Rs 9,671.85 crore.

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