|
Outlook The spot rupee is likely to open in the range of 46.25 to a dollar on Friday. |
|
Sentiment: Bearish |
|
The spot rupee tested 46.37 levels today following huge demand for the greenback by the State Bank of India. The rupee, however, closed at 46.25/26 per dollar following some inward remittances by foreign banks. The six-month forward premium closed at 0.87 per cent, while the 12-month premium closed at 0.68 per cent. |
|
Money market |
|
Sentiment: Bearish The prices of government securities rose by 7-8 paise in early trades following the announcement of a cut in the EPF rate. But the market witnessed some profit booking which weighed on gilt prices.
The yield on 9-year gilt stood at 6.99 per cent. Call rates closed at 5.30/5.40 per cent amid adequate liquidity. RBI accepted 10 bids aggregating Rs 8,450 crore under morning liquidity adjustment facility. It accepted another 13 bids aggregating Rs 2,325 crore at 5.25 per cent under second liquidity adjustment (SLAF). |
|
|
|