Re ends higher at 46.27/$

MARKETS REPORT

Forex market

Outlook
The rupee is expected to open between 46.24 and 46.27 against the greenback on Monday.

Sentiment: Bullish

The rupee opened at 46.28/29 per dollar and closed higher at 46.2650/2750.

Premiums on forward dollars closed lower. Annualised premiums on six-month and one-year dollars closed at 1.72 per cent and 1.54 per cent.

Money market

Sentiment: Bullish

Government securities prices rallied even though the inflation rate shot up, as investors expected the headline number to moderate in coming weeks due to base-year effect.

Prices of long-term paper gained 50-60 paise, while those of medium- and short-term securities appreciated by 20-25 paise.

The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed at 5.93 per cent.

Call moeny rates ended flat at 4.20-4.30 per cent.