Financial Daily from THE HINDU group of publications
Saturday, Sep 10, 2005
Financial Daily from THE HINDU group of publications Saturday, Sep 10, 2005 |
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Money & Banking
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Forex Rupee tad weaker; bond prices fall Our Bureau
MUMBAI: The rupee marginally depreciated against the greenback on account of importer-related dollar demand. The rupee opened at 43.8050 and touched an intra-day low of 43.88. It, however, closed the day at 43.84, down from Thursday's close at 43.81. In the forward premia market, the 12-month premium closed at 0.64 per cent (0.6) and the six-month premium at 0.55 per cent (0.53). In the bond market, prices fell by almost 25 paise as the inflation figures were above market expectations. A dealer at a private bank said that domestic inflation at 3.01 per cent was above the market expectation of around 2.80 per cent. The market moved into selling mode on the release of the domestic inflation data. "After rallying by about one rupee in ten days, there was bound to be a correction," said a dealer. The 10.25-16 year-2021 paper opened at Rs 126.50 (7.37 per cent YTM) and closed at Rs126.22 (7.40 per cent YTM), down from Thursday's Rs 126.50 (7.37 per cent YTM). The 5.69-13 year-2018 paper, which was auctioned on Thursday, opened at Rs 87.42 (7.19 per cent YTM) and closed at Rs 87.18 (7.22 per cent YTM). The 7.38-10 year-2015 benchmark paper was dealt at Rs 102.51 (7.02 per cent YTM), lower than Thursday's Rs 102.55 (7.02 per cent YTM). Call rates closed at 5-5.05 per cent (4.90-5.05). In the three-day reverse repo auction, the Reserve Bank of India received and accepted 51 bids amounting to Rs 47,495 crore. In the CBLO market, there were 237 trades for Rs 8739.50 crore in the rate range of 4.70-5.05 per cent.
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