Re ends higher at 46.3250/$

MARKETS REPORT

Forex market

Outlook
The rupee is expected to open between 46.31 and 46.34 against the greenback on Wednesday.

Sentiment: Dull

The rupee opened at 46.3150 per dollar and ended marginally lower at 46.3250.

Premiums on forward dollars eased due to a fall in gilt yields. Annualised premiums on six-month and one-year forward dollars closed at 2.25 per cent and 1.95 per cent respectively.

Money market

Sentiment: Bullish

Government security prices rallied on listless US consumer confidence data and low fiscal deficit projections by the govenrment on Tuesday.

Pirces of long-term gilts rose by 70-80 paise, medium-term papers moved up by 50-60 paise.

The yield on the ten-year benchmark paper, 7.37 per cent 2104, closed lower at 5.97 per cent, compared with 6.16 per cent on Tuesday.

Call money rates ended comfortable at 4.30 per cent.