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MUMBAI: The spot rupee closed lower against the dollar on Wednesday. However, the market was by and large flat, as most corporates were closed for the last two days for Diwali, said dealers. The money market too was closed on Tuesday.

The rupee opened at 45.20 and ended trade at 45.29, lower than Monday's close of 45.15. Most of the trades were below the 45.20-level, though oil-related demand brought it lower towards close.

Dealers said the dollar supply was limited as there were fewer players in the market.

The forward premia market too was flat, with the six-month closing at 0.43 (0.4 per cent) and the 12-month at 0.41 (0.38 per cent)

The bond market too was flat ahead of the auction announcement, which came after market hours.

The volume in the Government securities market was about Rs 155 crore. There was very little activity in the market, as many traders were on leave for Diwali.

The 7.37 per cent 9-year-2014 paper opened at Rs 102.53 (6.96 per cent YTM) and ended trade at Rs 102.49 (6.97 per cent YTM), against Monday's close of Rs 102.50 (6.97 per cent YTM).

The 10.25 per cent 16-year-2021 paper was dealt at Rs 125.51 (7.45 per cent YTM) against Monday's level of Rs 125.52 (7.45 per cent).

In the one-day reverse repo, under the liquidity adjustment facility, the RBI received and accepted 16 bids amounting to Rs 7,835 crore. In the CBLO market, there were 274 trades for Rs 13,246.70 crore in the rate range of 5.29-5.55 per cent.

On Thursday, there will be only screen-based trade in the debt market, as the NSE and the BSE are closed.

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