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Outlook:
The spot rupee is expected to open in the range of 46.48-53 to a dollar. |
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Sentiment: Dull
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The spot rupee opened at 46.49-52 to a dollar but closed around the same levels.
The annualised premia on the six month and one year forward dollars closed at 1.42 per cent and 1.67 per cent |
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| Money market |
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Sentiment: Bullish
The government securities market opened weak but the prices moved up during the day.
The prices went up by 40 paise in the long end and by 10-20 paise in the short and medium end of the maturity.
Call rates ruled around 6.50/6.10 per cent with the RBI absorbing around RS 40,000 crore from the market.
The market fell tracking the statements of the RBI annual report which indicated that interest rate movements will be guided more by the domestic factors rather than the overseas markets.
The statement was bearish since the interest rates overseas have almost stabilised
The yield on the ten year paper closed at 7.91 per cent. |
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