Rupee snaps winning streak

MARKETS REPORT

Forex market

Outlook: The rupee is expected to open between 45.28 and 45.35 against the greenback on Friday.

Sentiment: Bearish

• The rupee opened at 45.10/12 per dollar and ended lower at 45.33/35. It hit a high of 45.05 and a low of 45.36 in intraday trades.
• Annualised discounts on six-month and one-year forwards closed at 0.65 per cent and 0.3 per cent, respectively.

Money market

Sentiment: Bearish

• The economic policy stance spelt out by the prime minister-elect, Manmohan Singh, failed to cheer up the government securities market.
• Prices of long-term gilts slid by 30 paise, while those of the medium-term dipped by 10-15 paise.
• The yield on the ten-year benchmark gilt, 7.37 per cent 2014, closed at 5.19 per cent.
• Call money rates ended flat.
• Subscriptions at the repo window stood at Rs 8,420 crore.