Rupee declines to three year low
Mumbai: The rupee fell to a three-year low to Rs47 per dollar due to strong demand for the US currency from domestic petroleum companies. The rupee opened at 46.75 and touched an intra-day low of 47.04. It finally closed at 46.99/47. On Tuesday, the rupee closed at 46.70/71. After pacifying remarks from P Chidambaram finance minister the rupee stabilised to 46.92 levels. Global currencies, such as yen also weakened against the US currency.

Forwards: In the forward premia market, the 12-month closed at 1.18 per cent (1.19 per cent) and the 6-month ended at 1.03 per cent (1.07 per cent).

Bonds: Bond prices rose by around 15 paise on rumours of a possible postponement of the Rs5,000-crore.

G-secs: The 7.59 per cent-10 year-2016 benchmark paper opened at Rs94.9 (8.36 per cent YTM) and closed at R 95 (8.35 per cent YTM), up from Tuesday's Rs94.87 (8.37 per cent YTM). The 9.39-5 year-2011 paper opened at Rs106.15 (7.86 per cent YTM) and ended at Rs106.15 (7.86 per cent YTM), higher than Tuesday's close at Rs106.07 (7.88 per cent YTM).

Call rates: Call rates remained unchanged between 5.75 and 5.85 per cent.

Reverse repo: In the first one-day reverse repo auction under LAF, Reserve Bank of India received and accepted 24 bids amounting to Rs28,875 crore and in the second one-day reverse repo auction, 30 bids for Rs14,565 crore. There were no repo bids.

CBLO: The CBLO market saw 290 trades aggregating to Rs16,648.85 crore in the 5.56 -5.80 per cent range.
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HSBC to be part of CASHNET
Mumbai: HSBC has joined CASHNET, a shared ATM network, taking the total number of ATMs network to over 6,040. HSBC's 169 ATMs are now part of the CASHNET network. CASHNET is owned and run by Euronet Services India. The other banks that are part of CASHNET are Citibank, Centurion Bank of Punjab, Corporation Bank, Development Credit Bank, Deutsche Bank, Dena Bank, Dhanalakshmi Bank, IDBI Bank, ING Vysya Bank, HDFC Bank and UTI Bank.
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StanChart launches new credit card with 5 pc cash-back offer
Mumbai: Standard Chartered Bank has launched the Standard Chartered Super Value Titanium Master Card, which offers cash-back at the rate of 5 per cent on all payments made at petrol pumps and telephone bills. Cash-back of one per cent will be offered on all purchases made on the card. The annual fee for the card is Rs750. According to the bank the newly launched credit card is targeted at the `mass affluent' segment that has a card spend of a minimum of Rs2,500 to Rs3,500 per month. The cash-back limit that can be availed of on the card has been fixed at Rs500 per month.
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YES Bank ties up with Reuters
Mumbai: YES Bank has tied up with Reuters Trading for Foreign Exchange (RTFX) to automate the bank's foreign exchange transactions in a real time environment and enable the bank to use the distribution network of RTFX to reach new price takers throughout the world. The agreement would give the bank ability to build top-quality execution and client distribution business, said Ajay Mahajan, president, financial markets and institutions. The tie-up would give the bank's customers access to real-time information on the foreign exchange markets and give them confidence to use global internet trading, he said.

The bank says the alliance would give it an edge in efficiency and bring in new customers. YES Bank expects to set up new branches in the current year and raise Tier-II capital worth Rs150-200 crore.
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