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Outlook:
The spot rupee is expected to open in the range of 44.20-25 to a dollar.
Sentiment:Bullish |
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| The spot rupee opened at 44.17/18 but demand from oil companies led it to close at a low of 44.2450/2550 to a dollar. The six-month and one-year annualised premiums closed at 3.14 per cent and 2.90 per cent respectively. |
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| Money Market |
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| Sentiment: Bullish Liquidity eased in the system since banks have already prepared themselves for the CRR outflow last week. Prices of government securities moved up by 70 paise in the medium term and Rs 1.25 paise in the long tenure. The yield on 10-year benchmark paper closed at 7.53 per cent against a close of 7.63 per cent last week. Call rates came down to close at 8.50 per cent after opening at a high of 11-12 per cent. The RBI injected around Rs 17,945 crore from the system, while Rs 11,365 was absorbed in the second round of the LAF. |
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