Re ends higher at 44.55/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the 45.51-45.55 band against the greenback.

Sentiment: Dull

The spot rupee opened at 45.55 and gained to 45.46 before closing around 45.53/55 against the dollar

Premiums on six-month and one-year forward dollars closed at 0.8 per cent and 1 per cent, respectively

Money market

Sentiment: Flat

Gilt prices recovered by 5-10 paise across maturities

The yield on the ten-year paper closed at 7.58 per cent

Call rates ruled around 5.5/5.6 per cent

The RBI absorbed around Rs 51,000 crore from the market

Gilts are witnessing demand from banks and mutual funds