Re ends higher at 44.20/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the 44.17-44.23 band against the dollar.

Sentiment: Bullish

Tracking the positive sentiment in the equity market, the spot rupee opened stronger at 44.20-44.21 as against a closing of 44.21-44.22 on Wednesday

It, however, closed a tad higher at 44.19/20 against the dollar

Annualised premiums on six-month and one-year forward dollars closed at 3.5 per cent and 3.17 per cent, respectively

Money market

Sentiment: Bearish

Concerns on liquidity following advance taxes and higher inflation led to the bearishness in the market

Prices of government securities fell by 20-30 paise across all maturities

Yield on the ten-year paper closed at 7.99 per cent as against a closing of 7.96 per cent on Wednesday

Even as the RBI received bids to the tune of Rs 27,000 crore under reverse repo, call rates closed higher at around 5.75 per cent