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Outlook:
The spot rupee is likely to open in the range of 44.52-57 to a dollar.
Sentiment: Bullish
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| Spot rupee opened at 44.73 but backed by heavy dollar selling by corporates, it reached a seven-month high to close at 44. 55/56 to a dollar. The annualised premium for six-month and one-year forward dollars closed at 2 per cent and 1.79 per cent, respectively. |
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| Money market |
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Sentiment: Bullish
The government securities market opened weak but perked up later after the Centre released its indirect tax collection figures. While prices in short- and medium-term papers remained flat, long-end papers moved up by 20-25 paise. The yield on 10-year paper closed at 7.61 per cent. Call rates came down to 6.60/65 per cent. Liquidity in the market remained moderate as banks were seen preparing for reporting Friday. The RBI absorbed bids worth Rs 6,900 crore from the market. |
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