Re ends higher at 45.17/$

MARKETS REPORT

Forex market

Outlook
The rupee is expected to open between 45.13 and 45.18 against the greenback on Wednesday.

Sentiment: Bullish

The rupee opened at 45.21 per dollar and closed higher at 45.17. It hit an intraday high of 45.08.

Premiums on forward dollars came off. Annualised premiums on six-month and one-year dollars closed at 2.26 per cent and 1.86 per cent respectively.

Money market

Sentiment: Bullish

The government is learnt to be maintaining a surplus of Rs 20,500 crore with RBI and that has perked up the market sentiment.

Prices of medium- and short-term securities went up by Re 1 and 60 paise respectively.

The yield on the benchmark 7.38 per cent 2015 paper closed at 7.19 per cent, compared with 7.32 per cent on Monday.

Call money rates ended at 6.20-25 per cent.

The market drew liquidity to the tune of Rs 7,000 crore from the RBI.