Re closes weak at 45.87/$

MARKETS REPORTS

Forex market

Outlook
The rupee is expected to open between 45.84 and 45.88 against the greenback on Wednesday.

Sentiment: Moderate

The rupee opened at 45.86/87 per dollar and ended at the same level.

Premiums on forward dollars were rangebound. Annualised premiums on six-month and one-year dollars closed at 2.30 per cent and 1.98 per cent respectively.

Money market

Sentiment: Bearish

Government securities prices slid as investors sold securities to make room for the forthcoming auction.

Prices of long-term paper slid 50-60 paise and those of short-term gilts lost 20-30 paise.

Yield on the ten year benchmark paper, 7.37 per cent 2014, closed higher at 6.50 per cent.

Call money rates ended at 4.30 per cent.

Outstanding liquidity stood at Rs 10,000 crore with market players stashing away money for the fortcoming auction.