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| Outlook: The spot rupee is expected to open in the range of 45-45.05 to a dollar. |
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| Sentiment: Bearish |
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| The spot rupee opened at 45.99 but moved in a rangebound manner towards depreciation. It closed at 45.0250/0350 before reaching an intraday high of 44.97/98 to a dollar. The annualised premium for six-month and one-year forward dollars shot up owing to liquidity concern to 2.17 per cent and 1.89 per cent respectively. |
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| Money market |
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| Sentiment: Bullish The prices of government securities fell on liquidity concern signalled by the RBI through a repo rate hike. The short- and medium-term papers witnessed a fall of 35-40 paise, while the long term papers remained firm. The yield on the 10-year paper closed at 7.64 per cent as against a close of 7.61 per cent on Monday. Call rates ruled in a range of 6.40/50 per cent even as the RBI absorbed around Rs 4000 crore from the system. While the reverse repo rate remained unchanged, the market was on a selling mode as banks, which had picked up papers earlier, offloaded heavily to make room for the forthcoming auction. |
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