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Outlook
The spot rupee is expected to open in the range of 41.90-95 to a dollar. |
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Sentiment: Bullish
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| The spot rupee opened at 41.91/92 and reached an intraday high of 41.63/64 but fell to close at a low of 41.97/99 on heavy buying by importers. The annualised premium on six-month and one-year forward dollars closed at 6.21 per cent and 4.68 per cent. |
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| Money market |
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Sentiment: Bearish
Trading in government securities remained lacklustre amid apprehension about the auction on Wednesday and liquidity crunch. The yield on the 10-year paper closed flat at 8.10 per cent. Call rates reached to a high of 17 per cent during the day since importers needed rupees to swap for booking forward dollars. The RBI infused liquidity of around Rs 20,000 crore into the system. Dealers expect the cut-off yield on the 91-day t- bill to be around 7.48 per cent against 7.36 per cent . |
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