Re ends lower at 40.75/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 40.60-68 to a dollar on Thursday .

Sentiment: Bearish

The spot rupee opened at 40.64/66 but lost to close at 40.74/75 to a dollar

The annualised premium for six-month and one-year forward dollars closed at 1.88 per cent and 1.86 per cent respectively.

Money market

Sentiment: Bearish

Anticipating concerns on liquidity, trading in government securities remained cautious .

The prices of government securities remained flat compared with Monday levels.

The yield on the 10-year benchmark security closed at 7.98 per cent.

Call rates closed around 6.25 per cent, while RBI received bids of around Rs 25,000 crore.

The cutoff yield in the 91-day and 364-day treasury bills figured at 6.72 per cent and 7.49 per cent against their previous close of 6.58 per cent and 7.24 per cent