Traders said bonds were sold on investors' hopes that confusion in interbank dealings
will ease thanks to recent international coordination to stem the U.S.-triggered financial crisis that has spread to Europe and other parts of the world.
The rupee already crossed over Rs 100 to a dollar level in the unofficial kerb market but this is for the first time the local currency hit a century in the official interbank dealings
Takano said that because the settlement date for Wednesday's trading will fall into next year, most banks had been refraining from direct interbank dealings
in order to avoid risks associated with the Y2K computer glitch.