Financial Daily from THE HINDU group of publications
Friday, Dec 09, 2005
Money & Banking
Rupee weak; gilts in range
MUMBAI: The rupee witnessed two-way movement on Thursday and closed a shade lower against the dollar.
It opened at 46.25/26, touched a low of 46.37 on news of defence spending.
The domestic currency gained on good inflows to end trade at 46.26, lower from Wednesday's close of 46.23/24.
There was an equal amount of outflows and inflows, said a dealer with a private bank.
The dollar also lost against the other currenciessuch as yen, euro and pound.
The forward premia market saw a little movement intra-day and was almost unchanged at close.
The six-month closed at 0.85 per cent (0.84 per cent) and the one-year ended at 0.67 per cent (0.65 per cent)
The bond market was range-bound between 7-10 paise. Bonds closed 4-5 paise higher than the previous level, said dealers.
The lowering of EPF rate by 100 basis points was a boost for the market. The comfortable liquidity too was a positive and there were buyers and sellers at all levels.
The 8.07-12-year-2017 paper opened Rs 106.37 (7.22 per cent YTM) and closed at Rs 106.40 (7.22 per cent YTM), higher than Wednesday's close of Rs 106.33 (7.23 per cent YTM).
The 10.25-16 year-2021 paper opened at Rs 126.34 (7.36 per cent YTM) and ended at Rs 126.29 (7.37 per cent YTM).
The 7.49-12-year-2017 paper opened at Rs 102 (7.22 per cent YTM) and closed at Rs 101.97 (7.23 per cent YTM).
Call rate was at 5.3 per cent (5.25-5.3 per cent).
In the first one-day reverse repo auction, the Reserve Bank of India received and accepted 10 bids amounting to Rs 8,450 crore. In the second auction, it received and accepted 13 bids for Rs 2,325 crore.
In the CBLO market, there were 251 trades for Rs 12,228.1 crore in the range of 5.24-5.35 per cent.
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