Date:18/01/2005 URL: http://www.thehindubusinessline.com/2005/01/18/stories/2005011802470600.htm

Back Rupee up 10 paise; bonds range-bound

Our Bureau

MUMBAI: The rupee closed firmer at 43.66/68 levels against the dollar on Monday, after opening at 43.69 levels. This was 10 paise stronger than the previous week's close of 43.76/77.

The domestic currency hit a high of 43.74 in Monday's trading, with the low being 43.66.

A dealer at a local bank said the rupee was tracking Asian currencies in their trade versus the dollar. He said the yen firmed to 101.75 levels against the dollar on Monday, which was within striking distance of the dollar's five-year low versus the Japanese currency at 101.22.

The six-month forward closed marginally up at 2.14 per cent (2.08 per cent) and the one-year paper at 1.65 per cent, compared to 1.59 per cent in the previous session.

The bond market ranged in a 15-20 paise band. The 7.55 paper quoted at 104.75/80 (6.47 pc) after moving in a 25-30 paise range, while the 7.38 paper closed weaker at 105.20/25 (6.65 pc) after moving in a 35-40 paise range.

The benchmark 10-year paper opened at Rs 105 and closed at Rs 105.20/25 . Call rates closed at 4.74/80 levels after opening at similar levels in a liquid market. The RBI received Rs 21,840 crore under LAF, which was appreciably higher than the previous trade.