| |
Outlook:
The spot rupee is expected to open in the range of 41.99-42.05 to a dollar |
| |
Sentiment: Bullish
|
| |
| The spot rupee opened at 42.02/03, moved down to 42.22 owing to importer demand but closed higher at 42.07/08 following dollar selling by foreign banks. The annualised premium for six-month and one-year forward dollars closed at 6.30 per cent and 4.67 percent. |
| |
| Money market |
| |
Sentiment: Bearish
The demand for government securities perked up following a lower-than-expected cut-off for the dated security auction under the Market Stabilisation Scheme on Wednesday and the statutory liquidity requirement. The yield on the 10-year paper closed at 8.07 per cent. Call rates closed around 9 per cent with the RBI infusing liquidity of around Rs 15,000 crore into the market. The market, however, expects the tightness in liquidity to continue next week owing to supply from the government under the borrowing programme. |
| |
|
| |
