Spot Re moves up to 44.14/$

MARKETS REPORT

Outlook
The spot rupee is expected to open in the 44.12/15 range against the dollar on Thursday.

Sentiment: Volatile

Volatility in the forex market continued with the spot rupee opening at 44.03/04 and closing at 44.13/14 against the dollar, after hitting a high of 43.99 and a low of 44.17 intra day

Forward premiums came down sharply following a cash-dollar shortage with six -month and one-year dollars at 0.42 per cent and 0.49 per cent, respectively

Money market

Sentiment: Dull

Lack of a trigger resulted in lacklustre trading

Prices of government securities moved in a thin 3-4 paise range

The 10-year 7.38 per cent 2015 paper closed at 7.09 per cent

Call money rate remained at 5.05 per cent with reverse repo bids at around Rs 25,000 crore

The corporate bond market too remained dull