Financial Daily from THE HINDU group of publications
Friday, Sep 02, 2005
Financial Daily from THE HINDU group of publications Friday, Sep 02, 2005 |
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Money & Banking
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Forex Rupee recovers; securities rise Our Bureau
MUMBAI: The rupee gained against the dollar as oil price came off its highs and also weakening of the greenback in the global markets. The rupee opened at 44.08 and ended trade at 44.03. It touched an intra-day high of 44.0150 and an intra-day low of 44.1305. On Wednesday, the domestic currency closed at 44.13/14.
A dealer with a private bank said the dollar weakened significantly against currencies such as yen, sterling and euro as the US growth data was lower. In the forward premia market, the 12-month premium and the 6-month premium were unchanged at 0.50 per cent and 0.45 per cent respectively. Bond prices gained 10-20 paise due to the slight improvement in oil prices. US yields touched 4.02 per cent, which also helped the bond prices to strengthen. The 7.37 per cent 9-year 2014 paper opened at Rs 102.14 (7.03 per cent YTM) and touched a high of Rs 102.25 before closing at Rs 102.17 (7.02 per cent YTM), higher than the earlier level of Rs 102.0675 (7.04 per cent). The 10.25 per cent 16-year-2021 paper opened at Rs 125.6 (7.46 per cent YTM) and closed at Rs 125.65 (7.45 per cent YTM), up from Wednesday's close of Rs 125.46 (7.4705 per cent YTM). The 7.38 per cent 10-year benchmark was dealt at 7.08 per cent YTM (7.09 per cent YTM). The call rates were unchanged at 4.9-5 per cent. In the one-day reverse repo auction, the RBI received and accepted 40 bids amounting to Rs 26,555 crore. In the CBLO market, there were 302 trades for Rs 15,081.75 crore in the rate range of 4-6 per cent.
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