Business Standard

Gilts Get A Cash Lift, Forex Mart A Rough Ride

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BUSINESS STANDARD

The gilts mart opened last week on a bullish note in response to the statement by the Reserve Bank of India (RBI) governor Bimal Jalan that there will be no repo rate cut and that the bias for soft interest rates would continue.

And ample liquidity provided fillip to prices, which till then had remained range bound. But apprehensions of open market operations by the RBI owing to the excess liquidity clouded sentiment

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First Published: Jun 02 2003 | 12:00 AM IST

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