Re ends down at 45.73/$

MARKETS REPORT

Forex market

Outlook:
The rupee is expected to trade in a Rs 45.70 to Rs 45.85 range on Thursday.

Sentiment: Bearish

The rupee weakened on dollar demand from oil companies and foreign institutional investors

Spot rupee closed at 45.73 per dollar, down from Tuesday's 45.56

The six-month forward dollar premium was down to 0.74 per cent from 1 per cent on Tuesday

Money market

Sentiment: Bearish

Government bond yields were rangebound and the yields ended steady

Yield on the benchmark 10-year gilt ended unchanged at 7.60 per cent, after crossing 7.61 per cent in morning trade

RBI absorbed Rs 64,990 crore of liquidity from the banking system

Dealers expect yields to remain steady as the imminent increase in oil prices has already been factored in