Re ends at 45.84/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee was expected to open in the range of 45.82-88 to a dollar on Monday.

Sentiment: Bullish

The spot rupee opened at 45.92 but recovered to close at 45.84 to a dollar, tracking the rebound in Asian currencies as a whole.

The premiums on six-month and one-year forward dollars closed at 1 per cent and 1.05 per cent, respectively.

Money market

Sentiment: Bearish

Government securities prices remained rangebound on apprehensions of auction announcement.

Prices moved in a narrow range of 2-3 paise.

The yield on 10-year gilt closed at 7.80 per cent.

Call rates remained comfortable at 5.70/80 per cent with the RBI absorbing around Rs 40,000 crore from the market.

Ending the speculation, the RBI announced auction of 8-year and 15-year paper for mopping up around Rs 9000 crore, thus preponing the scheduled auction.