Re firmer at 44.67/$

MARKETS REPORT

The spot rupee opened at 44.62/63, but closed lower at 44.66/67 driven by dollar demand. It hit the day's low of 44.71 to a dollar.

The annualised premium for six-month and one-year forward dollars closed a tad higher at 2.23 per cent and 2.03 per cent, respectively.  Money market  Sentiment: Bullish

Market witnessed profit booking by banks and PDs, which had piled up stocks of government securities in the last few weeks.

G-sec prices in medium-term papers fell by 25-30 paise, while short- and long-tenure papers came off by almost 15 paise.

Yield on 10-year paper closed at 7.40 per cent.

Call rates moved around 6.05/6.15 per cent, while the RBI absorbed around Rs 12,000 from the market.

The cutoff yield on 91-day t-bill rose by 4 basis points to 6.68 per cent while the yield for 182-day t-bill came down by 4 basis points to 6.88 per cent.