Financial Daily from THE HINDU group of publications
Tuesday, Aug 23, 2005

Port Info

Group Sites

Money & Banking - Forex

Rupee sheds 4 paise; securities weak

Our Bureau

MUMBAI: The rupee fell against the dollar, as there was oil-related buying.

The domestic currency opened at 43.57/58 and touched a low of 43.64 before ending trade at 43.62/63, against the previous close of 43.5850/59.

"There was both oil-related demand and general demand seen today. But supply was not as robust. This has put some pressure on the spot rupee," a dealer said.

The greenback weakened across major currencies in the global market, he added.

The forwards also came off a bit, with the 12-month premia closing at 0.67 per cent (0.83 per cent) and the 6-month premia ending at 0.59 per cent (0.81 per cent).

In the bond market, prices opened 5-7 paise higher. During the day, prices however fell by 2-3 paise.

A dealer at a private bank said that it was a dull day and the trades were thin. "With the global price of crude touching $65.57 and rumours about a domestic hike in fuel prices, there was a degree of uncertainty in the market," he said.

The 7.37-9 year 2014 paper opened at Rs 102.17 (7.03 per cent YTM) and closed at Rs 102.18 (7.03 per cent YTM), the same level as Friday's closing.

The 10.25-16 year 2021 opened at Rs 125.53 (7.47 per cent YTM) and closed at Rs 125.58 (7.46 per cent YTM), slightly lower than Friday's Rs 125.61 (7.46 per cent YTM).

The 7.38-10 year 2015 paper was dealt at Rs 102.18 (7.07 per cent YTM), higher than Friday's Rs 102.10 (7.08 per cent).

Call rates closed at 5 per cent. In the one-day reverse repo auction, the RBI received and accepted 43 bids amounting to Rs 25,935 crore.

In the CBLO market, there were 179 trades for Rs 7,214.20 crore in the rate range of 4.74-4.85 per cent.

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

Stories in this Section
Rupee sheds 4 paise; securities weak

Birla Sun Life launches single premium plan
Cap likely on third party liabilities of insurers
Pilot project for online motor claims processing under way
South Indian Bank garners Rs 65 cr from Tier II bonds
South Indian Bank plans to open arms in W. Asia
Indian Bank raises $100 million through syndicated loan
Corporation Bank signs pact with IL&FS Investsmart
PHD Chamber urges RBI to lower rates on export finance
Banks rejig rates to cash in on festival season

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