Re ends higher at 46.06/$

Forex market

Outlook:
The spot rupee is expected to open at 46.02-46.07 against the greenback.

Sentiment: Bullish

Tracking an appreciating yen against dollar, the spot rupee opened at 46.14 but gained to close at 46.06 against the dollar.

The annualised premiums on six-month and one-year forward dollars closed at 1.10 per cent and 1.20 per cent, respectively.

Money market

Sentiment: Bearish

The market opened bearish but moved up following the small size of the state development loan and reduced yield of the US ten-year yield.

The yield on the ten year paper closed at 8.20 per cent.

The prices of securities moved in a rangebound manner.

The corporate bond market witnessed a string of tier II bond issues from public sector banks.

Call rates were comfortable at 5.8/5.9 per cent with the RBI absorbing around RS 58,000 crore.