Re ends at 45.96/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in a range of 45.92-93 against the dollar on Tuesday.

Sentiment: Bearish

The spot rupee opened weaker around 45.90 against the dollar following appreciation of dollar against other Asian currencies and euro in global markets.

Rupee closed at 45.96 after hitting intra-day high of 45.87

The premium on six-month and one-year forward dollars closed at 1.09 per cent and 1.18 per cent.

Money market

Sentiment: Bearish

Government securities market remained bearish as the size of the government bond auction on August 22 was increased to Rs 9,000 crore from Rs 5,000 crore.

Prices of securities fell by 15-20 paise across maturities

The yield on 10-year gilt closed 7.92 per cent.

Call rates closed at 5.80 per cent. RBI absorbed Rs 38,820 crore through reverse repo auctions.