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Outlook:
The spot rupee is expected to open in the range of 46. 89-93 to a dollar. |
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Sentiment: Bearish
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The spot rupee opened at 46.83/84, lost to 46.97-46.98 before recovering to close at 46.91/92 against the dollar.
Annualised premiums on the six-month and one-year forward dollars closed at 0.72 per cent and 0.96 per cent, respectively. |
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| Money market |
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Sentiment: Bullish
Prices of government securities moved up by 10-15 paise as the market was divided on a short term rate hike by the RBI in its policy review on Tuesday.
Yield on the ten-year paper closed at 8.20 per cent.
Call rates were comfortable at 5.8/5.9 per cent while the RBI absorbed around RS 37,000 crore.
The corporate bond market witnessed buying demand from banks and provident funds.
The macroeconomic review highlighted mineral oil and primary article prices as factors contributing to higher inflation as much as the international crude prices. |
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