Re ends higher at 45.78/$

MARKETS REPORTS

Forex market

Outlook:
The spot rupee is expected to open in the range of 45.75-79 to a dollar.

Sentiment: Bullish

Disappointing non-farm payroll data from the US led the spot rupee to open and close in the range of 45.77/79 after reaching an intra-day high of 45.88 to a dollar.

The six-month and one-year forward dollars closed at 0.67 per cent and 0.87 per cent, respectively.

Money market

Sentiment: Bearish

The government securities market remained bearish over apprehension on the cutoff rate in the government auction on Tuesday.

Prices of securities fell by 40-50 paise across maturities.

The yield on the 10-year gilt closed at 7.65 per cent.

Call rates closed in the range of 5.50-60 per cent with reverse repo bids at around Rs 70,000 crore.

Corporate bond market remained lacklustre.