Range-bound Re ends at 45.96/$

MARKETS REPORT

Forex market

Outlook: The spot rupee is likely to open in the range of 45.97 to a dollar on Thursday.

Sentiment: Bearish

• The spot rupee ended at 45.95/96 to a dollar after having traded in a narrow range of 45.93-96 as most traders had already covered their positions on Tuesday.
  
  
• The six-month forward premium closed at 0.79 per cent, while the 12-month premium closed at 0.64 per cent under paying pressure in the market.

Money market

Sentiment: Bearish 

• Prices of short-tenure government securities fell by 5-10 paise ahead of a possible auction announcement.
  
  
• The yield on 9-year government stock rose by 2 basis points to 6.98 per cent.
  
  
• The government will raise Rs 5,000 crore through the auction of 10- to 14-year government stocks during December 1-8. It is also expected to raise another Rs 3,000 crore through the auction of government securities of 20-year maturity.
  
  
• Call rates closed around the reverse repo rate at 5.25/5.35 per cent.
  
  
• The RBI accepted 7 bids aggregating Rs 1,195 crore at 5.25 per cent under liquidity adjustment facility.