The Hindu Business Line : Rupee weakens; gilts range-bound

MUMBAI: The rupee weakened against the dollar on Monday on reports of improved US employment data. The rupee ended trade on Monday at 43.4705/4825, lower than Friday's close of 43.4350/40.

The rupee had opened at 43.51/52. The volumes in the forex market have picked up once again from two weeks ago, a dealer said. "Importers will come to the market shortly. People feel that the rupee may go up in the long term."

The forward premia market opened higher but closed lower, dealers said. The 12-month premium was between 1.47 per cent and 1.45 per cent (1.35/37 per cent) and the six-month premium opened at 1.72 per cent and ended at 1.68 per cent (1.57/60 per cent).

The bond market was range-bound as market functionaries stayed on the sidelines ahead of the State Government auctions, said the dealersThe 7.55-5-year-2010 paper was the most actively traded paper on Monday. It ended at Rs 102.75/78 (6.88 per cent YTM) against Friday's close of Rs 102.70 (6.90 per cent YTM). The 8.07-7-year-2012 paper did not see many deals. It closed at Rs 104.58 (7.47 per cent YTM) against Friday's level of Rs 104.50 (7.48 per cent YTM).

Call rates were in the range of 4.90 per cent -5 per cent. In the one-day reverse repo under the liquidity adjustment facility, RBI received and accepted 38 bids, amounting to Rs 20,375 crore. The CBLO market saw 185 trades, amounting to Rs 8245.15 crore in the rate range of 4.82 to 5 per cent.

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

Stories in this Section
Banks to take part in Krishi Mahotsav

Capital adequacy norms for RRBs likely

Creditable initiatives from RBI

Rupee weakens; gilts range-bound

Allahabad Bank mulls foray into insurance, realty fund — Annual profit Rs 542 cr; to pay 30 pc total

Syndicate Bank Q4 net rises to Rs 280 cr

Housing: Plea to modify FEMA

Bajaj Allianz's first premium income up by 380 pc

Insurers face paucity of trained manpower

Karur Vysya Bank in pact to be co-promoter in NCDEX arm

Andhra Bank eyes Rs 56,000-cr biz

Karnataka Bank cuts FCNR (B) rates