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Outlook:
The spot rupee is expected to open in the range of 40.39-45 to a dollar. |
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Sentiment: Bullish
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The spot rupee opened at 40.48 but sale of dollars by corporates and exporters led to a closing at 40.4150/40.42 to a dollar.
Annualised premiums on six-month and one-year forward dollars closed at 1.75 per cent and 1.80 per cent, respectively. |
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| Money markets |
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Sentiment: Bullish
Liquidity of Rs 52000 crore absorbed by the RBI perked up market sentiment leading to brisk buying by banks.
Prices of government securities went up by 5-25 paise across maturities.
The yield on the benchmark 10-year paper closed at 7.86 per cent.
Call rates moved up to close around 6 per cent after reeling at a low of 0.10/0.20 per cent for last few weeks.
Interest rates on the three-month certificate of deposits and commercial papers have moved from low of 5-5.5 per cent to 7/7.5 per cent following concern on liquidity.
The cap of Rs 6000 crore imposed by the RBI for accepting bids under reverse repo was removed today . |
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