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Outlook:
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The spot rupee is expected to open in the range of 46.16-20 to a dollar.
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Sentiment: Bullish
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The spot rupee opened at 46.27/ 28 and closed at 46.18/ 19 after hitting intraday lows of 46.16/ 17 to a dollar.
The six-month and one-year annualised premiums each closed at 1.34 per cent.
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Money market
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Sentiment: Bullish
The prices of government securities closed flat compared with Monday after opening higher following soft oil prices.
The yield on the ten-year paper closed at 7.70 per cent.
Call rates ruled a bit higher at 6.10-15 per cent as banks set aside funds for advance tax payments.
The government announced the sale of oil bonds for a total amount of Rs 7,000 crore which do not qualify for SLR reserve requirements
The RBI absorbed surplus liquidity of around Rs 34,000 crore from the market.
The reverse repo bids declined as banks started to set aside funds for advance taxes. |
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