Re ends at 44.49/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 44.46/49 to a dollar.

Sentiment: Bearish

Profit booking by foreign institutional investors and demand by oil companies led to the spot rupee opening at 44.38/39 but losing 10-12 paise to close at 44.48/ 49 to a dollar.

The premium on six-month and one-year forward dollars closed at 2.54 per cent and 2.12 per cent respectively.

Money market

Sentiment: Bearish

Prices of government securities remained rangebound.

Call rates ruled at around 6.65/75 per cent.

Corporate bond market remained lacklustre.

The top traded security 8.07 per cent 2017 gilt closed at 7.41 per cent.

The cut off yield on 91 day t-bill closed was at 6.64 per cent , down by 0.04 per cent against 6.68 per cent in the earlier auction.