Re ends higher at Rs 41.68/$

MARKES REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 41.58-65 to a dollar.

Sentiment: Jittery

Ahead of the policy, the spot rupee had a mixed movement. The currency opened at 41.69/70 and closed around 41.67/68 after reaching an intraday low of 41.74 to a dollar.

The annualised premium for six-month and one-year forward dollars closed at 6.89 per cent and 5.04 per cent, respectively.

Money market

Sentiment: Bearish

Prices of government securities fell by 10-15 paise across maturities.

The yield on the 10-year paper closed at 8.10 per cent against its Friday's closing of 8.06 per cent.

Call rates closed around 9 per cent with the RBI infusing around Rs 5000 crore into the system.

The market is expecting a rise in repo rate in the monetary policy to be announced on Tuesday.