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Outlook
The spot rupee is expected to open in the range of 43.49-53 to a dollar on Tuesday. |
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| Sentiment: Volatile |
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| The worldwide rise in the dollar led to a weak opening of the spot rupee on Monday at 43.51/51 to a dollar. It touched an intra-day low of 43.59/60 and looked up to close at 43.50/51. Forward premiums remained range-bound with the six-month and one-year dollars closing at 2.04 per cent and 1.71 per cent, respectively. |
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| Money market |
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| Sentiment: Bullish With the auction cut-off yield for the 2022 paper at 7.34 per cent, gilt prices rallied on buying support from nationalised banks on Monday. Long-term paper prices went up by almost Rs 2, while medium-term gilts moved up in the Rs 1.20-1.50 band. The 10-year benchmark 7.38 per cent 2015 ended at 6.55 per cent as against Saturday's closing of 6.72 per cent. Call rates moved in the range of 4.70/80 per cent whereas reverse repo bids were at Rs 16,000 crore. The spread between the 5-year corporate bond and the underlying security was at 50 basis points. |
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