![]() Financial Daily from THE HINDU group of publications Friday, Nov 11, 2005 |
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Money & Banking
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Forex Rupee firms up; securities rise Our Bureau
MUMBAI: The rupee edged up slightly against the US currency on the back of investment-related dollar inflows into the market. The domestic currency opened at 45.83/84 and touched an intra-day high of 45.72/73. It, however, closed at 45.78, up from Wednesday's 45.80. Dealers said that investment-related inflows pushed the rupee to 45.72/73. However, importer demand as well as inter-bank buying caused the rupee to inch down. A dealer at a private bank said that several oil majors were in the market today to buy dollars. In the forward market, the 6-month closed at 0.44 per cent (0.49) and the 12-month ended at 0.43 per cent (0.43). The bond market was lacklustre in the morning, but improved in the post-lunch session, on expectations that liquidity would gradually improve, said dealers. Primary dealers and banks that took long positions in the government securities did not resort to panic selling, which indicates a more positive mood, the dealer said. The 7.37 per cent 9-year-2014 paper opened at Rs 102.33 (7 per cent YTM) and closed at Rs 102.39 (6.99 per cent YTM) up from the earlier level of at Rs 102.35 (7 per cent YTM). The most active paper, 7.49 per cent 12-year 2017 opened at Rs 101.40 (7.31 per cent YTM) and ended trade at Rs 101.43 (7.30 per cent YTM), against the earlier close of Rs 101.38 (7.31 per cent). This paper touched a low of Rs 101.29 and a high of Rs 101.48 during the day, an intra-day movement of 18 points. The 10.25 per cent-16 year- 2021 paper opened at Rs 125.13 (7.48 per cent YTM) and closed unchanged at Rs 125.25 (7.47 per cent YTM). The call rate closed at 5.96 per cent (6.20/40 per cent). In the one-day reverse repo, under the LAF, RBI received and accepted 7 bids amounting to Rs 2,005 crore and in the one-day repo auction RBI received and accepted 15 bids amounting to Rs 5,175 crore. In the CBLO market, there were 319 trades for Rs 10,566.95 crore in the rate range of 5-6.30 per cent.
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