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Outlook:
The spot rupee is expected to open in the range of 45.23-27 to a dollar. |
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Sentiment: Bullish
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The spot rupee opened at 45.30 but closed higher at 45.26 on the back of dollar sales by exporters.
The forward premium for six-month and one-year dollars closed at 1.61 per cent and 1.52 per cent, respectively. |
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| Money market |
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Sentiment: Bullish
With the US yields coming down, there was a rally in the government securities market.
Prices of government securities moved up by 15-20 paise.
Call rates opened higher above 7 per cent but softened later with the RBI absorbing around Rs 16,325 crore from the market in the second tranche of market operations.
The yield on the 10-year benchmark paper closed at 7.63 per cent.
The RBI announced a cutoff yield of 6.64 per cent for 91-day t-bill and 6.99 per cent for 364 day t-bill, which is eight basis point higher than last cut-off yield of 6.91 per cent. |
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