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| Outlook: The spot rupee is expected to open in the range of 43.49/53 to a dollar on Wednesday. |
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| Sentiment: Moderate |
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- The spot rupee opened and closed at 43.52/53 to a dollar before reaching its seven-year intra-day high of 43.37/38 .
- Forwards tracked the spot rupee with the six-month and one-year premiums closing at 1.78 per cent and 1.35 per cent.
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| Money market |
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| Sentiment: Bullish |
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- The gilts market was bullish with an overhang of excess liquidity in the system.
- Prices in long-term papers went up by 75 paise whereas the medium and short term saw prices moving up by 50 paise.
- The benchmark 10-year 7.38 per cent 2015 gilt closed at 6.47 per cent against its close of 6.53 per cent on Monday.
- Call rates ruled in the range of 4.75.78 per cent with reverse repo bids figuring at Rs 40,000 crore.
- The 9.39 per cent 2011 government paper was auctioned at a cut-off yield of 6.52 per cent.
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