Business Standard

Re soars to 46.32/$ at close

MARKETS REPORT

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Our Banking Bureau Mumbai
Forex market
 
Outlook
The rupee is likely to open between 46.30 and 46.36 against the greenback on Monday.
 
Sentiment: Bearish
  • The rupee opened at 46.36/37 per dollar and ended higher at 46.31/32 on dollar sales by the Reserve Bank of India and higher forex inflows.
  • Premiums on forward dollars closed higher. Annualised premiums on six-month and one-year dollars closed at 2.79 per cent and 2.50 per cent respectively.
 
Money market
 
Sentiment: Bearish
  • Government security prices fell initially, but were perked up by buying demand during the fag-end of the trading session.
  • Prices of long- and medium-term paper fell by Re 1 and bounced back to end at opening levels.
  • The yield on the ten-year benchmark paper, 7.37 per cent 2014, ended lower at 6.5 per cent, compared with 6.60 per cent on Wednesday.
  • Call rates ended at 4.20-4.30 per cent.
  • Subscriptions to one-day repo was around Rs 20,000 crore.
 
 

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First Published: Aug 20 2004 | 12:00 AM IST

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