Re ends higher at 45.62/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 45.60-65 to a dollar.

Sentiment: Bullish

The spot rupee opened lower at 45.60/61 after closing at 45.64/65 to a dollar on Wednesday. It remained rangebound during the day to close at 45.62.

The annualised premium for six-month and one-year forward dollars closed at 1.45 per cent and 1.40 per cent, respectively.

Money market

Sentiment: Bullish

Prices of government securities moved up by 20-35 paise across maturities after opening lower for the day.

The market began with a bearish note, tracking the minutes of the Fed meeting which stated inflation as a concern.

The yield on the 10-year paper closed at 7.60 per cent.

The RBI absorbed around Rs 25,000 crore from the market even as call rates ruled around 6.40-50 per cent.

The aggressive underwriting commission for the auction, to be held on October 13, perked up market sentiment.