Published on Mon, Mar 15, 2010 at 09:00 | Source : Moneycontrol.com
Updated at Mon, Mar 15, 2010 at 09:28
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Rupee has key support at 45.20/USD: Greenback
The rupee is likely to be firm on strong crosses and positive sentiment in the domestic equity market, says Subramaniam Sharma of Greenback Forex Services .
On the rupee outlook- Subramaniam Sharma, Greenback Forex Services said, "The rupee is likely to be firm on strong crosses and positive sentiment in the domestic equity market. 45.20/US dollar will remain a key support and is likely to be breached. Imported demand at lower levels could cap gains for the rupee. The range for the day is seen between 45.05-45.40/USD.
On the bond outlook - "The market will await the commencement of the borrowing program from April and till then the market will closely watch inflation and liquidity. The market may be slightly deflated in liquidity on advance tax numbers which could be in the Rs 50000-55000 crore range. The bond market is likely to be in a slightly bearish mode. The range for the 10-yr yield is seen between 7.98-8%," Suresh Prabhu, HDFC Bank said.
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