Re ends higher 46.54/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46. 51-55 to dollar.

Sentiment: Dull

The spot rupee opened at 46.61/63 to a dollar but closed at 46.53/54 after reaching a low of 46.50 following heavy dollars sales by some corporates fearing dollar drop post Fed meet.

The annualised premium on six-month and one-year dollars closed at 1.09 per cent and 1.17 per cent, respectively.

Money market

Sentiment: Bullish

Prices of government securities anticipating no major changes in the Fed meeting moved up by 25-40 paise.

The yield on the 10-year benchmark paper closed at 8.20 per cent.

Both 7.59 per cent 2016 and 9.39 per cent 2011 were fully subscribed at a cut-off yield of 8.27 per cent and 7.94 per cent, respectively.

Call rates ruled around 6.05/10 per cent with the RBI absorbing around Rs 44,000 crore from the market.

The market is keenly awaiting Fed meeting and oil price movement which is quoting at $76-78 a barrel.