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Outlook
The rupee is expected to open between 43.59 and 43.63 per dollar on Tuesday. |
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| Forex market |
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Sentiment: Bullish
- The rupee opened at 43.57/60 per dollar and closed lower at 43.6450/65.
- Premiums on forward dollars declined as exporters booked receivables. Annualised premium on six-month and one-year dollars closed at 0.27 per cent and 0.23 per cent respectively.
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| Money market |
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Sentiment: Bullish
- Government security prices rallied on the back of excess liquidity, which, the market feels, is there even after the flotation of market stabilisation bonds.
- Prices of long-term securities surged by 20-25 paise and those of short-term gilts inched up by 10-15 paise.
- The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed at 5.08 per cent.
- Call money rates moved in the range of 4.25-4.50 per cent.
- Subscriptions to seven-day repo stood at Rs 29,800 crore.
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