Re firms up to 43.77/$; bonds decline

I / Mumbai February 16, 2005

The spot rupee opened at 43.78 per dollar, and went up to 43.83 per dollar in intra-day deals. It finally closed on a firm note at 43.77 per dollar on sustained inflows and lack of buying by PSU banks. The rupee had closed at 43.82 per dollar yesterday.

Government bonds displayed a narrow mixed trend with a general downward bias on renewed selling today.

The 10-year, 7.38% 2,015 bond dropped 15 paise to Rs 106.41/45 with the yield rising by 2bps to 6.53%.

Call rates were easy around 4.70-4.80%.