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Outlook:
The spot rupee is expected to open in the range of 44.72-76 to a dollar.
Sentiment: Dull
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| The spot rupee opened at 44.70 and closed around 44.72/73 after reaching a low of 44.7450. The annualised premiums for the six-month and one-year forward dollars closed at 3.16 per cent and 2.69 per cent, respectively. |
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| Money market |
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Sentiment: Dull
The government securities market remained rangebound with no fresh triggers for the market. The prices of gilts moved in a narrow band of 2-3 paise, especially in the benchmark segment of the maturity. The yield on the benchmark 10-year paper closed at 7.58 per cent, a tad lower than a close of 7.59 per cent on Tuesday. Call rates remained higher at 8.20/8.30 per cent since the liquidity conditions posed continued tightness. The RBI injected liquidity to the tune of around Rs 11,000 crore. The cut off yield on the 91-day t-bill was at 7.10 per cent whereas the 364-day t-bill auction got cleared at a cut-off yield of 7.2350 per cent as against 6.93 per cent in the last auction. |
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