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Rupee dips as securities market is upbeat
Mumbai: The rupee depreciated on Tuesday to end at 43.50/51, as compared to its previous close of 43.44/45.

Forwards market: The 6-month premium closed at 1.36 per cent (1.42) and the 12-month at 1.24 per cent (1.33).

G-Secs: The auction of the 8.35 per cent 2022 paper saw a lot of bidding interest, while a fall of 3-4 basis points in the US yields also helped the Indian bond market. The 7.55 10-year 2010 paper closed at Rs103.52 (6.71 per cent YTM) against Saturday's close of Rs103.20 (6.78 per cent YTM). The 7.38 10-year 2015 benchmark paper got dealt at Rs103.40 (6.91 per cent) against the previous close of Rs102. 70 (7 per cent TYM).

Call rates: were unchanged between 5-5.10 per cent (5-5.10 per cent).

CBLO market: 196 trades in the rate range of 2.5 to 5 per cent aggregating Rs9,776.05 crore were realised.
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ECGC nets Rs.516 crore premium income
Coimbatore: The Export Credit Guarantee Corporation (ECGC) has netted a provisional premium income of Rs515.88 crore for the financial year 2004-05. The corporation has settled claims worth Rs350 crore in this period.

Disclosing this at an exporters' meet organised by the Tirupur Exporters Association (TEA) at Tirupur, the Chairman and Managing Director of ECGC, P. K. Dash, said that his corporation, which managed to lower the premium rates by 25-40 per cent in the last three years, intended to further bring down the cost of the ECGC cover for shippers through `progressively' lowering the premium rates.

The ECGC Chairman said that the corporation, as part of expanding its service network, planned to open three more new branches in Delhi, Bandra-Mumbai and Bangalore and an exclusive branch in New Delhi. It also proposed to set up new branches in Mirzapur, Guntur, Mangalore, Jalandhar, Surat and Gurgaon this financial year.
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