30 october 2004

rupee gains 18 paise
mumbai: the rupee climbed to a four-and-a-half month high, closing at 45.37/38 against the dollar on friday, firming up 18 paise from its previous close of 45.54/55.

forwards market: the six-month forward closed at 2.33 per cent (2.60 per cent) while the twelve-month premia ended at 1.95 per cent (2.2 per cent).

g-secs: prices rose by nearly 40 paise intra-day in medium term papers, before settling to close lower. the 11-year benchmark 7.38 per cent 2015 paper closed at rs103.60. the 6.65 per cent 2009 paper after rising 25 paise intra-day closed at rs101.12 at a yield of 6.35 per cent.

call rates: in the range of 4.65 per cent to 4.85 per cent with a few deals struck at 5 per cent.

cblo market: 116 trades worth rs4, 205.30 crore were transacted at rates of between 1-5 per cent.

chidambaram: foreign banks may acquire controlling stake in private banks
mumbai: the union finance minister, p. chidambaram has said that the government is open to allowing acquisition of shares - up to 10 per cent a year - by foreign banks in domestic private banks and to assume controlling stake in three-four years.