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Outlook:
Traders expect the rupee to open at 44.30 versus the dollar. |
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Sentiment: Bearish
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In a volatile trade, the rupee fell off its intra-day peaks to 44.21 a dollar after having opened at 44.06/08 following some dollar purchases by foreign banks.
Forward premiums fell a tad tracking the spot rupee. The six-month premium closed at 1.96 per cent and the 12-month premium ended at 1.52 per cent. |
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| Money market |
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Sentiment: Bearish
Short-tenure gilt prices moved in a tight range while long-end gilts were not traded today ahead of the quarterly review of monetary and credit policy.
The 8.07 per cent 2017 gilt stood at 7.20 per cent in a lacklustre market against its previous close of 7.21 per cent.
Call rates closed at place at 7 per cent as banks were covering their reserve requirements.
The RBI mopped up Rs 15 crore through the morning reverse repo auction and infused Rs 14,440 crore into the system.
RBI infused Rs 4,795 crore through its second reverse repo auction at 6.25 per cent, while reverse repo bids aggregated to Rs 330 crore. |
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