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Outlook
The spot rupee is expected to open in the range of 45.85-45.93 to a dollar on Friday. |
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Sentiment: Bearish
- The spot rupee opened at 45.75-45.78 on Thursday and slipped to close at 45.90-45.94 to a dollar despite dollar selling by RBI.
- Forward dollar premiums remained range-bound with the six-month and one-year forwards closing at 1.1 per cent and 0.9 per cent, respectively.
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| Money market |
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Sentiment: Bearish
- Gilt prices recovered in initial trades but tanked owing to selling by mutual funds and primary dealers. The Union finance ministry's plan to review the market stabilisations scheme after June 30 also affected the sentiment.
- Gilt prices fell by almost a rupee in the long-end from their opening levels. Prices of medium and short-term gilts slipped by 60-70 paise.
- The 10-year benchmark 7.37 per cent 2014 closed up at 5.79 per cent against 5.75 per cent on Wednesday.
- Call rates ruled in the 4.25-30 per cent range, while the repo subscription was worth Rs 8,510 crore.
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