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Outlook:
The spot rupee is expected to open in the range of 41.14-41.20 to a dollar. |
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Sentiment: Bullish
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The spot rupee opened at 41.12 but reached an intraday low of 41.45 before closing for the day at 41.18 to a dollar.
The annualised forward premia for six month and one year forward dollars closed at 6.06 per cent and 4.85 per cent respectively. |
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| Money market |
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Sentiment: Bearish
The market remained bearish owing to concerns on liquidity.
The prices of government papers fell by 10-30 paise with consequent rise in yields by 2-3 basis points across maturities.
The yield on the ten-year paper closed at 8.17 per cent as against 8.12 per cent last week.
The liquidity remained comfortable with the call rates closing around 9.5 per cent.
The RBI infused liquidity to the tune of around Rs 16,000 crore into the system.
The market is expecting announcement of dated papers under MSS auction. |
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