Re ends at 45/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 45.-45.05 to a dollar.

Sentiment: Volatile

The spot rupee opened at 44.83/85, reached one-and-half-month high of 44.77 and low of 45.11 following frantic covering of short positions before closing at 44.99/45 to a dollar.

The premiums on six-month and one-year dollar closed at 1.15 per cent each.

Money market

Sentiment: Bullish

The government securities market witnessed activity across maturities with prices moving in the range of 10-15 paise.

The yield on 10-year benchmark gilt closed at 7.34 per cent.

Call rates ruled at 5.5 per cent with the RBI absorbing around Rs 67,000 crore through reverse repo.

Corporate bond market remained lacklustre.

Both the government papers, 7.40 per cent 2012 and 7.95 per cent 2032, were fully subscribed at yields, as per market expectation.