Re ends lower at 44.11/$

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 44.08-12 to a dollar on Tuesday

Sentiment: Bullish

The spot rupee opened at 44.14/15 but closed at a low of 44.10/11 after reaching an intraday low of 44.0850 to a dollar

The annualised premia for six month and one year forward dollars closed at 3.33 per cent and 2.99 per cent respectively

Money market

Sentiment: Bearish

The prices of government securities remained rangebound on Monday since trading was cautious.

Announcement of auction and outflows towards excise payments this week led to tightness in the call rates

The yield on the 10-year paper closed at 7.72 per cent

The call rates rose to 7.90/8 per cent with the RBI infusing liquidity to the tune of Rs 10,300 crore

Dealers are of the view that the market will get a firm direction only after the auction