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Outlook
The spot rupee is expected to open in the range of 41.95-42 to a dollar. |
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Sentiment: Bullish
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| The spot rupee opened stronger at 41.87/88 against a closing of 41.97/99 on Tuesday but fell to close at a low of 42/42.02 following heavy dollar purchases by oil companies. The annualised premium on six-month and one-year forward dollars closed around 6.08 per cent and 4.72 per cent. |
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| Money market |
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Sentiment: Bearish
The government securities market witnessed demand from banks for SLR requirement. The yield on the 10-year benchmark paper closed around 8.07 per cent. The prices of securities moved up by 20-30 paise across maturities.. Liquidity conditions eased owing to government expenditure. Call rates closed around 10.50 per cent against highs of 17 per cent seen on Tuesday. The 91-day treasury bill was auctioned at a cut off yield of 7.47 per cent as against 7.36 per cent last week. |
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