Volatile rupee ends higher

Outlook
The rupee is expected to open between 43.50 and 43.54 to the dollar on Thursday.

Forex market

Sentiment: Volatile

• The rupee gained by 31 paise to end at a fresh high of 43.5350/54. The currency remained volatile for most of the day.
• Premiums on forward dollars firmed up on the back of RBI intervention. Annualised premiums on three-month and six-month dollars closed at 0.92 per cent and 0.61 per cent respectively.

Money market

Sentiment: Bullish

• Government securities prices opened on a bullish note, but were later dampened by the news of Rs 5,000 auction on April 8.
• Prices of long-term securities moved up by 10-15 paise, while those of medium-term papers inched up by 5-7 paise.
• The yield on the ten-year benchmark paper closed at 5.12 per cent.
• Call money rates remained ranged between 4.25 per cent and 4.40 per cent.
• Subscriptions to seven-day repo stood at Rs 9,000 crore.