WebSify
Follow us on
Mail
Print

Re snaps 2-day gain on growth concerns

Source : BUSINESS_STANDARD
Last Updated: Thu, Dec 27, 2012 19:00 hrs
An employee counts Indian currency notes at a cash counter inside a bank in Kolkata

Snapping its two day gaining string, the rupee on Thursday fell 10 paise to 54.94 against the dollar due to month-end demand for the US currency from oil importers, amid economic growth concerns and capital outflows. Forex dealers said a weak trend in the stock markets triggered by fag-end selling also weighed on the rupee sentiment.

The rupee commenced higher at 54.75 at the Interbank Foreign Exchange market from its previous closing of 54.84. It immediately touched a high of 54.72 on initial firm equities as well as sustained dollar selling by exporters. Later, it fell back to a low of 54.99 before ending at 54.94, down 10 paise, or 0.18 per cent.

Bonds remain firm
Government securities (G-sec) remained firm on sustained demand from banks and companies. The 8.33 per cent G-sec maturing in 2026 strengthened to Rs 100.9950 from Rs 100.9050 previously, while its yield inched down to 8.21 per cent from 8.22 per cent.

The 8.15 per cent G-sec maturing in 2022 edged up to Rs 100.25 from Rs 100.24, while its yield held steady at 8.11 per cent.

The 8.20 per cent G-sec maturing in 2025 also shot up to Rs 100.02 from Rs 99.90, while its yield moved down to 8.19 per cent from 8.21 per cent. The 8.97 per cent G-sec maturing in 2030, the 8.07 per cent maturing in 2017 and the 8.19 per cent maturing in 2020 also quoted higher at Rs 106.27, Rs 99.98 and Rs 100.11 respectively.

Call rates end lower
Call money rates ended lower at the overnight market here on Thursday due to lack of demand from borrowing banks.

The rate finished lower at 8.05 per cent from yesterday's close of 8.15 per cent. It moved in a range of 8.20 per cent and 7.90 per cent.


blog comments powered by Disqus
most popular on facebook
talking point on sify finance