Re ends a tad stronger at 46.22/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is likely to open at 46.25 levels against the dollar on Monday

Sentiment: Bearish

The spot rupee closed a tad stronger at 46.21/22 after opening at 46.16/17. Demand for the greenback muted the rupee's gains.

Premiums on the six-month and 12-month forwards closed at 0.81 per cent and 0.65 per cent, respectively

Money market

Sentiment: Bearish

Impact of high oil prices, which crossed $60 a barrel, dragged down gilt prices by 10-15 paise

Yield on the nine-year government paper stood at 7.01 per cent

Call rates closed at 5.30/5.40 per cent amid adequate liquidity

RBI absorbed Rs 6,335 crore through its morning reverse repo auction at 5.25 per cent

It accepted another 29 bids aggregating Rs 5,125 crore at 5.25 per cent under second liquidity adjustment