| |
Outlook:
The spot rupee is expected to open in the range of 45. 35-40 to a dollar. |
| |
Sentiment: Bullish
|
| |
Strong inflows pushed the spot rupee up to open at a high of 45.24/25 against a close of 45.27/28 to a dollar on Tuesday.
The rupee, however, depreciated to close at a low of 45.37/38 after reaching an intraday high of 45.21 to a dollar, following dollar demand by oil companies. |
| |
| Money market |
| |
Sentiment: Bearish
Concern on rate hike in the forthcoming credit policy and strain on liquidity led to selling pressure.
Prices of government securities fell by 5-6 paise across maturities.
The yield on the 10-year paper closed at 7.68 per cent.
Call rates ruled at a high of 7 per cent as liquidity was in short supply owing to the festive season.
The Reserve Bank of India (RBI) absorbed around Rs 1165 crore from the market.
The RBI auctioned 91 day t-bills at 6.64 per cent, four basis points higher than 6.60 per cent last week. |
| |
|
| |
