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Outlook The spot rupee is expected to open in the range of 46.24/28 to a dollar. |
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Sentiment: Bullish - The spot rupee opened at 46.26/27 but moved up to 46.23/24 on the back of dollar selling by exporters and inter-bank covering. Corporate demand for dollars, however, saw the rupee close at 46.2650/2750.
- Forwards tracked the spot rupee with the six-month and one-year premiums closing at 2.73 per cent and 2.36 per cent respectively.
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Money market |
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Sentiment: Bullish - The steel price cuts and the upgrade by global rating agency Standard & Poors resulted in the prices of government securities rallying on Monday.
- The prices in medium-term papers went up by Rs 1.50, while in the long tenure segment, it has moved up by a rupee.
- The 10-year benchmark 7.37 per cent 2014 closed at 6.31 per cent against a close of 6.5 per cent last week.
- Call money rates have been comfortable at 4.20-30 per cent.
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