Financial Daily from THE HINDU group of publications
Saturday, Jun 04, 2005
Financial Daily from THE HINDU group of publications Saturday, Jun 04, 2005 |
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Money & Banking
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Forex Rupee firmer; gilt prices rally Our Bureau
MUMBAI: The rupee gained against the US dollar on the back of good inflows on Friday. It opened at 43.65/67 and closed the day at 43.67, up from Thursday's close at 43.68/69. A dealer at a private bank said, "There were dollar inflows, which could possibly have been from the Infosys ADR. The market also saw very little demand for dollars from importers." In the forward premia market, the six-month closed at 1.13 per cent (1.13) and the 12-month closed at 1.12 per cent (1.13). In the bond market, prices rallied by 25-40 paise on the back of a fall in the US yields. "The inflation rate at 5.38, lower than last week's 5.55 per cent, provided a cushion for the market. There is also a positive feeling that the Rs 10,000-crore auction on Monday will be completely bid for," said a dealer at a private bank. The 7.55-5 year-2010 paper opened at Rs 103.55 (6.64 per cent YTM) and closed at Rs 103.75 (6.60 per cent YTM), up from Thursday's Rs 103.55 (6.69 per cent YTM). The 8.07-12 year-2017 paper saw a rise of 45 paise, opening at Rs 107.85 (7.07 per cent YTM) and closing at Rs 108.30 (7.01 per cent YTM). It closed on Thursday at Rs 108.15 (7.03 pc YTM). The call rate remained steady at 4.95-5.05 per cent. In the three-day reverse repo, under the Liquidity Adjustment Facility, the RBI received and accepted 42 bids amounting to Rs 26,385 crore. The CBLO market saw 146 trades, aggregating Rs 5,731.70 crore in 4.50 to 5.19 range.
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