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Outlook:
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The spot rupee is expected to open in the range of 46.10-14 to a dollar.
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Sentiment: Bullish
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The spot rupee opened higher at 45. 96/98 after closing last week at 46.06 to a dollar. Driven by dollar demand from a corporate, it ended lower at 46.13/14 .
The annualised premium on six-month and one-year forward dollars closed at 1.14 per cent and 1.22 per cent respectively.
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Money market
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Sentiment: Bearish
On the eve of the auction, prices of government securities fell across maturities with a 6-7 basis point rise in yields.
Prices of government securities fell by almost 30-40 paise.
The yield on the 10-year paper closed at 8.28 per cent.
Call rates ruled around 5.8/5.9 per cent with the RBI absorbing around Rs 52,800 crore.
The market is expecting the cut-off yield on 10-year paper on Tuesday to hover in the range of 8.28-30 per cent at the auction. |
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