Rupee climbs, Gilts sink

MARKETS REPORT

Forex market

Outlook: The rupee is expected to open between 45.25 and 45.33 against the greenback on Monday.

Sentiment: Bearish

• The rupee opened at 45.30/32 per dollar and ended higher at 45.27/29. It hit an intraday high of 45.23 due to exporters' greenback sales.
• Annualised discounts on six-month and one-year dollars ended at 0.66 per cent and 0.28 per cent respectively.

Money market

Sentiment: Bearish

• Government security prices sank as investors booked profits on uncertainty over the stance of the common minimum programme to be announced next week.
• Prices of long-term securities slid by 30-35 paise, while those of medium-term gilts dipped by 15 paise.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, ended higher at 5.20 per cent, compared with 5.1850 per cent on Thursday.
• Call money rates were comfortable.