Financial Daily from THE HINDU group of publications
Friday, Oct 29, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 29, 2004 |
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Money & Banking
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Forex Rupee up 9 paise; securities rise Our Bureau
Mumbai , Oct. 28 THE rupee firmed up by 9 paise on Thursday. It closed at 45.54/55 per dollar against Wednesday's level of 45.63/64. After opening at 45.60 the rupee appreciated on abundant dollar supplies. "Some dollar demand from PSUs was expected which didn't come in. So most banks were unwinding long dollars," said a dealer. In the forwards market, the six-month premia closed at 2.6 per cent (2.8 per cent) and the one-year premium ended at 2.2 per cent (2.3 per cent). Bond prices gained by up to 45 paise in some maturities although the market remained thin ahead of the expected inflation announcement on Friday. The 7.38 per cent 2015 paper opened at Rs 103 and got dealt up to Rs 103.45. Call rates remained steady in the 4.75 per cent range in the inter-bank market.In the CBLO market, 123 trades were conducted to the tune of Rs 4,407 crore. Meanwhile, in the seven-day repo under the LAF, RBI received and accepted one bid amounting to Rs 20 crore. In the one-day repo, it received and accepted 35 bids amounting Rs 13,435 crore.
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