Forex
It is time to get out of the short end
THE fortnight saw a twin auction of three and six-year maturity for Rs. 2,500 crores each. Both of them were re-issues of existing securities (11.10 GoI 2003 and 11.68 GoI 2006). The auction saw a fair amount of interest from the participants and the cut -off yields were more or less on the curve (9.47 per cent and 9.92 per cent respectively).

Investment flows are still underweight on euro
IN the last edition of this column, we wrote that the medium and long-term trends are still bearish for the euro, as even wave analysis is not convinced that a major bottom has been traded for the common currency.

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