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Outlook:
The spot rupee is expected to open in the 43.72-43.78 Band against the dollar |
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| Sentiment:Bullish |
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| Heavy dollar selling by banks led the spot rupee to close at an 18-month high of 43.74/75 after opening for the day at 44.08 Annualised premiums for six-month and one-year dollars rose to 4.4 per cent and 3.61 per cent as against a closing of 3.5 per cent and 3.10 per cent, respectively, during the weekend |
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| Money Market |
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| Sentiment: Lacklustre Tight liquidity conditions led to cautious trading in government securities today Prices of gilts fell by 20-30 paise across maturities Yield on the ten-year paper closed at 8.07 per cent as against a close of 8.01 per cent during last weekend Advance tax outflows and preparation for the next fortnight led the call rates to touch nine-year high of 60 per cent. They closed the day at 24 per cent The RBI infused liquidity worth around Rs 35,000 crore into the system n Banks swapped dollars for generating rupee resources at overnight swap rates as high as 105 per cent |
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