Financial Daily from THE HINDU group of publications
Friday, Mar 11, 2005

Port Info

Group Sites

Money & Banking - Forex

Rupee strengthens; securities weak

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.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
HSBC stake in UTI Bank to drop to 12.5 pc after GDR

Srei Infrastructure Finance plans $50-m GDR to fund expansion
Primary dealers set to report losses for the first time
Rupee strengthens; securities weak
IRDA forms panel to study Law Commission report
Block deal in HDFC Bank
RBI sets up board to monitor payment, settlement systems
HDFC Bank to pick 5 pc stake in MCX
IOB board okays GDR issue
Corporation Bank to launch kisan card
HSBC to infuse $180 m in India
Microcredit lending to SHGs touches Rs 150 crore

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line