Rupee up 5 paise
Mumbai: The rupee closed at 45.82/84 on Monday, five paise above Friday's close of 45.87/89.
Forward Market: The six-month forward closed at 1.33 per cent (1.67 per cent), while the twelve-month forward closed at 1.16 per cent (1.53 per cent).
G-Secs: The 8.07 per cent 2017 paper closed about 50 paise higher at Rs 118.30. The 10-year benchmark 7.37 per cent 2014 paper closed at Rs 112.47.
Call Rates: Were at 4.25-30 per cent.

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Forex reserves cover imports for 17 months
Mumbai: The Reserve Bank of India's investments in international securities increased to $35.02 billion for the financial year ended March 31, 2004, from $ 26.92 billion in the previous fiscal year.
In its report on Foreign Exchange Reserves 2003-04, the apex bank has disclosed that during this period, it deposited $45.9 billion with other central banks and the Bank for International Settlements and $26.5 billion in the form of deposits with foreign commercial banks.

The ratio of volatile capital flows-including cumulative portfolio inflows and short-term debt- to reserves declined to 36.0 per cent as at end-March 2004, from 146.6 per cent as at end-March 1991. During 2003-04, the Government carried out prepayment of certain high cost loans to IBRD and ADB amounting to $2.6 billion. The import cover of foreign exchange reserves as at end-March 2004 increased to 17 months, from 14 months of imports or about five years of debt servicing as at end-March 2003 and 11.3 months in March 2002, and 3 weeks of imports as at December 1990.
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