Re ends at a 11-month low of 45.16/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 45.14/17 to a dollar on Wednesday

Sentiment: Bearish

The spot rupee opened weak at 44.96/97 against a close of 44.86/87 to a dollar on Monday. However, it lost to close at a 11-month low of 45.1650 to a dollar.

The six-month and one-year forwards closed at 0.45 per cent each.

Money market

Sentiment: Bearish

The government securities market witnessed lacklustre trading as traders were cautious of buying ahead of the policy announcement.

Prices of gilts fell by 10-13 paise across maturities.

The 10-year gilt closed at 7.17 per cent.

Call rates closed at 5.05 per cent with reverse repo bids at around Rs 19,000 crore.

Corporate bonds, tracking the gilts market, continued to be lacklustre.