Rupee slips on RBI move

Outlook
The rupee is expected to open between 43.60-43.65 per dollar on Monday.

Forex market

Sentiment: Bullish

• The rupee opened at 43.50/52 per dollar and ended lower at 43.63/6350. Though forex inflows continued, RBI intervention supported currency throughout the day.
• Premiums on forward dollars slid. Annualised premiums on six-month and one-year dollars closed at 0.5 per cent and 0.4 per cent respectively.

Money market

Sentiment: Bullish

• Government paper prices rallied on hopes of low inflation at 4.28 per cent
• Prices of long-term securities went up by 30-50 paise and those of medium-term gilts inched up by 10-15 paise.
• The yield on the ten-year benchmark gilt closed around 5.11 per cent.
• Call money rates ended at 4.25-4.50 per cent.
• Subscription at seven-day repo auction stood at Rs 8000 crore.