Re ends stronger at 44.10/$

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 44.05-44.09 to a dollar on Monday.

Sentiment:Bullish

The spot rupee opened at 44.11/12 , rose to a high of 44.06-08 before closing at 44.10 to a dollar

The annualised premium for six-month forward dollars closed at 3.66 per cent

Money Market

Sentiment: Bullish

The fuel price cut announced by the government perked up sentiment.

Prices of government securities rose by 10-60 paise across maturities.

The yield on 10-year paper closed at 8.03 per cent against its close of 8.08 per cent on Wednesday.

Call rates inched up to 8/8.25 per cent since the banks rushed to set aside funds to provide for the CRR hike.

While rates for certificate of deposits shot up to 10.10/10.25 per cent, volumes in overnight interest rate swap market clocked volume of Rs 15,000 crore.