Re ends lacklustre at 43.85/$

MARKETS REPORTS

Forex market

Outlook: The rupee is likely to move in a narrow range on Thursday too, versus the dollar.

Sentiment: Dull

• The rupee closed almost unchanged today at 43.8450/8500 per dollar in a lacklustre market.
• The six months premium closed at 1.96 per cent (2.01 per cent) and the one-year forward ended at 1.42 per cent (1.43 per cent).

Money market

Sentiment: Positive

• Prices of gilts rallied by 25-100 paise across maturities with traders showing plenty of buying interest.
• Markets expect the government to cancel the Rs 8,000 crore auction scheduled for the first week of January.
• The ten-year benchmark, 7.38 per cent 2015 gained 60 paise to end the day at Rs 105.70/75 with a corresponding yield of 6.62 per cent.
• Call rates remained tight today with the average rate being 6 per cent.
• RBI injected liquidity worth Rs 7,920 crore into the system and sucked out Rs 365 crore.