Re ends losing streak

MARKETS REPORT

Forex market

Outlook: The rupee is expected to open between 44.01 and 44.05 against the greenback on Monday.

Sentiment: Bullish

• The rupee snapped a three-day losing trend to end at 44.0350/04500 per dollar on central bank intervention.
• Discounts on the forward dollars narrowed. The six-month forward dollar ended at a discount of 0.69 percent, compared with 0.79 per cent on Thursday.

Money market

Sentiment: Bearish

• Prices of government securities ended lower on concerns over inflation.
• The yield on the benchmark 10-year gilt rose to 5.0695 per cent, compared with Thursday's 5.0665 per cent.
• Call money rates closed higher at 4.25-4.50 per cent compared with 4.00-4.25 per cent on Thursday.