Re ends flat at 44.19/$

MARKETS REPORT

Forex Market

Outlook:
The spot rupee is expected to open in the range of 44.14-19 to a dollar.

Sentiment:Bullish

The spot rupee opened and closed at 44.18/19 but reached an intraday high of 44.15 and low of 44.22 during the day.

The annualised premium for six-month forward dollar closed at 2.95 per cent.

Money Market

Sentiment: Bullish

Prices of government securities moved up in the range of 10-70 paise across maturities following buying interest from the banks .

The yield on 10-year paper closed at 7.92 per cent as against a close of 8.01 per cent .

Call rates closed at a low of 7/7.5 per cent following marginal improvement in the liquidity situation.

The RBI absorbed net liquidity of around Rs 2020 crore from the system.