9 october 2004

bond prices crash as rupee firms up
mumbai: bond prices crashed by around one rupee across maturities as the reserve bank of india announced a 'fixed rate' auction. the rupee closed marginally stronger at 45.81/82 against the dollar as against thursday's levels of 45.85/86.

forwards market: the six-month premium ended at 2.45 per cent and the one-year premium ending at 2.05 per cent.

g-secs: the 10-year benchmark yield touched a high of 6.68 per cent levels. the 7.37 per cent 2014 paper slipped to a low of rs104.90. the 6.65 per cent 2009 slipped to rs101.15. the market reacted to the announcement for a re-issue of the 7.38 per cent 2015 paper for raising rs6,000 crore, to be held on october 11.

call rates: ruled between 4.40 and 4.60 per cent in the inter-bank market.