Re slips on subdued dollar inflows

MARKETS REPORT

Forex market

Outlook: The rupee is expected to open between 44.80 and 44.85 against the greenback on Wednesday.

Sentiment: Bearish

• The rupee opened at 44.48/52 per dollar and ended lower at 44.82/87 on subdued dollar inflows.
• Discounts on forward dollars widened. Annualised discounts on six-month and one-year dollar closed higher at 0.7 per cent and 0.35 per cent.

Money market

Sentiment: Bearish

• Government security prices fell across the board on profit booking by investors.
• Prices of long-term securities fall by 30-35 paise, while those of medium-term papers dipped by 15-20 paise.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, ended up at 5.13 per cent.
• Call money rates ended higher at 4.00-4.25 per cent.
• Repo subscriptions stood at Rs 30,355 crore.