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Outlook
The spot rupee is expected to open in the range of 46.33-36 to a dollar. |
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| Sentiment: Dull |
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| The spot rupee remained rangebound after opening at 46.35/36 and slipped to 46.38 before closing at 46.3550/3650 to a dollar. Forward premia came down with no pressure from the corporate demand side with six-month and one-year closing at 2.39 per cent and 2.05 per cent, respectively. |
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| Money market |
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| Sentiment: Bullish Government security prices extended their decline for the second day on RBI's upward revision in inflation outlook. Prices of medium-term securities fell by 20-30 paise, while those of long-term gilts barely budged. The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed higher at 6.08 per cent, lower than the intraday high of 6.19 per cent and Monday's 6.16 per cent. Call rates remained comfortable at 4.20-30 per cent. Outstanding repo subscriptions stood at Rs 44,000 crore. |
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