Financial Daily from THE HINDU group of publications
Saturday, Oct 16, 2004
Financial Daily from THE HINDU group of publications Saturday, Oct 16, 2004 |
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Money & Banking
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Forex Rupee in tight band; gilts up Our Bureau
MUMBAI: The domestic currency ended at 45.86 a dollar on Friday, unchanged from its previous closing levels. According to dealers, although the market remained bogged down by concerns on the oil price front, other factors, such as the easing of inflation, remained positive. After opening at 45.84, the rupee was dealt to a low of 45.87 due to a bout of dollar buying from corporates. However, the demand for the greenback was matched by a spell of steady dollar selling by State-run banks, thereby holding the rupee in a tight band, the dealers said. In the forwards market, the premia eased further, with the six-month premium ending at 2.40 per cent (2.52 per cent) and the one-year premium ending at 1.96 per cent (2.05 per cent) Bond prices ended about 25-30 paise stronger across maturities in a buoyant government securities market. The 7.38 per cent 2015 paper opened at Rs 103.75 and got dealt up to Rs 104.20/22. The 6.65 per cent 2009 paper opened at Rs 101.10 and got traded up to Rs 101.25/30. Call rates closed at 4.50 per cent levels in the inter-bank market. In the CBLO market, 151 trades were conducted, amounting to volumes of Rs 5,026.50 crore in the rate range of 1 per cent to 4.65 per cent.
More Stories on : Forex | Govt Bonds
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