Business Standard

Re drops to 45.21/$; gilts flat

MARKETS REPORT

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Our Banking Bureau Mumbai
Forex market
 
Outlook
The spot rupee is likely to open in the 45.25 level to a dollar on Friday
 
Sentiment: Bearish
 
  • The spot rupee fell to 45.21 against the dollar for the third consecutive day as the dollar gained ground against other global currencies
  • The six-month forward came off to 1.18 per cent and the 12-month premium was almost flat at 0.93 per cent
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    Money market
     
    Sentiment: Bearish
  • The government securities market was almost flat in lacklustre trade
  • Yield on the nine-year government paper stood at 7 per cent
  • Call rates fell to 5.75/5.85 per cent as there was some cash surplus in the system

  • RBI absorbed Rs 100 crore through its morning reverse repo auction at 5.25 per cent. It infused a sum of Rs 300 crore into the system at 6.25 per cent
  • The bank mopped up Rs 3,850 crore at 5.25 per cent under second liquidity adjustment facility and injected Rs 300 crore at 6.25 per cent
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    First Published: Dec 23 2005 | 12:00 AM IST

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