Dollar buying by foreign banks on behalf of their custodian clients led to the rupee reaching an intraday low of 44.54/55 after opening at 44.35/36 to a dollar
The rupee closed for the day at 44.49/50 .
The annualised premium on six-month and one-year forward dollars closed at 3.77 per cent and 3.04 per cent, respectively
Money Market
Sentiment: Bullish
Government securities moved up following the reduction of auction amount in the government borrowing programme later this week.
The yield on 10-year paper closed at 7.48 per cent against a closing of 7.54 per cent last Friday.
Prices of gilts moved up by 20-50 paise across in the short- and medium-term papers.
Call rates inched up to around 8.25/8.5 per cent since the banks started providing for reserve requirements going forward to the reporting fortnight.
