Re ends lower at 40.70/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 40.67-77 to a dollar.

Sentiment: Bullish

The spot rupee opened at 40.76/77 but rose to a high of 40.61 before closing for the day at 40.69/70 to a dollar.

The annualised premiums for the six-month and one-year forward dollars closed at 2.43 per cent and 2.61 per cent, respectively.

Money market

Sentiment: Bearish

Demand for SLR securities and surplus liquidity spurred brisk trading in the government securities market.

The prices of government securities moved up by 10-15 paise.

The yield on the ten-year benchmark paper closed at 8.16 per cent as against 8.18 per cent on Wednesday.

Liquidity was abundant since the RBI received bids worth Rs 1,10,000 crore under reverse repo.

Call rates closed around 0.5 per cent.