Rupee eases against the dollar
Mumbai: The rupee eased by around three-four paise against the dollar on Friday, mainly on buying by some foreign banks. The home currency opened at 40.75/77 to finally close at 40.75/76 against Thursday's close of 40.71/72.

Forwards: The six-month forward premia stood at 2.67 per cent (2.93 per cent) and 12-month premia at 2.67 per cent (2.83 per cent).

Bonds: Prices remained flat on market speculation that RBI may announce auctions for coming week. Total traded volumes on the order matching system were Rs 4,920 crore (Rs 4,370 crore).

The 7.49 per cent-10 year-2017 paper closed at Rs95.06 (8.23 per cent YTM), against the previous close of Rs95.08 (8.23 per cent). The 8.07 per cent-10 year-2017 paper closed at Rs99.50 (8.14 per cent YTM), against the previous close of Rs99.50 (8.14 per cent YTM).
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Forex reserves up by another $1.46bn; total reserves at $211.015bn
Mumbai: The country's foreign exchange reserves rose $1.468 billion to $211.015 billion in the week ended June 22 mainly on account of the RBI's intervention in the forex market.

The reserves had increased by $1.174 billion to $209.547 billion in the week ended June 8.

Over four consecutive weeks, the country's foreign exchange reserves have swelled by $7.028 billion.

Foreign currency assets rose $1.469 billion to $203.646 billion, according to RBI's Weekly Statistical Supplement. Foreign currency assets, expressed in dollars, include the effect of appreciation or depreciation in non-US currencies (euro, sterling and yen) held in reserves.

Gold reserves and SDRs remained the same at $6.911 billion and $1 million, respectively.

The country's reserve position in the IMF fell by $1 million to $457 million.
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SBI Act ordinance promulgated, stake sale to be made on June 29
New Delhi: The Centre will make cash payment of Rs35,531.33 crore to the Reserve Bank of India by way of acquiring the apex bank's entire holding in the State Bank of India (SBI), the largest commercial bank in the country.

As of now, RBI holds a 59.73 per cent stake in the SBI. The transaction, involving a stake transfer of 31,43,39,200 equity shares, of a face value of Rs10 each, is likely to occur on June 29.

The ordinance, amending the State Bank of India Act to enable the transfer of RBI's entire holding in SBI to the central government, was promulgated on Thursday.

The Government had provided a sum of Rs40,000 crore for the stake buy from the RBI in this year's budget.
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Citigroup India net up 39%, at Rs1,566 crore
New Delhi: Citigroup India has said that its net profit for the fiscal year 2006-07 grew 39 per cent, on a conglomerate basis to Rs1,566 crore, against Rs1,127 crore in the previous year.

The net profit of Rs1,127 crore in the fiscal 2005-06, excludes the Rs2,188 crore from the gain on sale of holding in one of the group companies.

For the year ended March 31, 2007, Citigroup India, comprised of all Citigroup entities in the country, reported revenues of Rs7,315 crore.
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