Financial Daily from THE HINDU group of publications
Friday, Sep 30, 2005
Financial Daily from THE HINDU group of publications Friday, Sep 30, 2005 |
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Money & Banking
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Forex Rupee rises a tad due to thin volumes Our Bureau
MUMBAI: The rupee slightly appreciated against the dollar on Thursday on the back of marginal dollar inflows. The rupee opened at 44.03 and touched an intra-day high of 43.9850/99. It closed the day at 44.01/02, higher than Wednesday's close at 44.04/05. Dealers said volumes were very thin as PSU banks stayed away on account of the strike. The rupee is likely to further strengthen on Monday, as dollar inflows accumulated over the long weekend enter the market. In the forward premia market, the 12-month premium closed at 0.72 per cent (0.65) and the 6-month premium closed at 0.75 per cent (0.65). In the bond market, prices fell on lack of buying support as a result of the strike. Dealers said that the price of global crude, which touched $ 66.63 was a concern. Besides, on the eve of the fiscal half-yearly closing, traders stayed away from taking big positions. Volumes were very thin at Rs 235 crore. The 10.25-16 year-2021 paper opened at Rs 125.77 (7.44 per cent YTM) and closed at Rs 125.68 (7.44 per cent YTM, lower than Wednesday's at Rs 125.78 (7.43 per cent YTM). The 7.37-9 year-2014 paper opened at Rs 102.34 (7 per cent YTM) and ended at Rs 102.20 (7.02 per cent YTM), down from Wednesday's close at Rs 102.29 (7.01 per cent YTM). The call rate closed at 4.75-5 per cent (5.10). In the one-day reverse repo auction, the Reserve Bank of India received and accepted 35 bids amounting to Rs 25,705 crore. On account of the half-yearly closing, in the one-day repo auction, the RBI received and accepted one bid amounting to Rs 1,000 crore. In the CBLO market, there were 177 trades for Rs 4,699.30 crore in the rate range of 1-5.3 per cent.
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