Our Bureau

MUMBAI: The rupee ended seven paise stronger against the greenback, closing at 43.58 on Thursday, as against Wednesday's closing of 43.64/65.

The market continues to be flushed with dollar inflows, which swept the domestic currency up to a high of 43.50 during the day, dealers said.

At this point, State-run banks started mopping up dollars, which brought the rupee back to its closing levels.

"Internationally too, the euro is gaining against the dollar, which aided rupee's appreciation today," said a dealer with a private sector bank.

In the forwards market, the six-month premium ended at 1.50 per cent (1.52 per cent), while the one-year premium closed at 1.30 per cent (1.35 per cent).

Bond prices remained bogged down by apprehensions of a hardening in global crude oil prices.

The 7.38 per cent 2015 paper closed at Rs 106.03 (6.57 per cent YTM) as against its previous closing levels of Rs 106.25 (6.55 per cent YTM).

In the one-day reverse repo under the LAF, RBI received and accepted 44 bids amounting to Rs 33,700 crore.

Call rates remained 4.60-4.80 per cent range.

In the CBLO (Collaterised Borrowing and Lending Obligations) market, 104 trades were put through amounting to volumes of Rs 3,921.30 crore in the rate range of 4.05-4.80 per cent.

(This article was published in the Business Line print edition dated March 11, 2005)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.