Re ends firm at 46.55/$

MARKETS REPORT

Forex market

Outlook:
Backed by cross currency, the spot rupee is expected to open in the range of 46.50-46.53 against the dollar.

Sentiment: Bullish

Cross currency appreciation of the yen and pound led to spot rupee closing at opening levels of 46.54-46.55 after touching an intra-day high of 46.65 against the dollar

The annualised premiums on the six-month and one-year forward dollars closed at 1.01 per cent and 1.14 per cent, respectively

Money market

Sentiment: Dull

Prices of government securities moved in a range of 5-6 paise

Yield on the ten-year benchmark paper closed at 8.25 per cent

Call rates closed at 6.05-6.10 per cent with the RBI absorbing around Rs 48,000 crore from the market

There were no transactions in the when-issued market today

The market sentiment, however, perked up after the US farm payroll data failed to impress the global markets of a US economic recovery