Re ends lower at 44.14/$

MARKETS REPORT

Forex market

Outlook:
Dealers expect the rupee to open at 44.08-10 against the greenback

Sentiment: Bullish

The rupee opened at 44.20-22 levels against the dollar, touched an intra-day high of 44.11-12 and closed slightly lower at 44.13-14 against teh dollar.

The six-month forward premium ended the day at 2.03 per cent and the annualised premium closed at 1.48 per cent

Money market

Sentiment: Cautious

The gilt market witnessed a 5-10 paise dip today, amid thin volumes and a few deals

The 8.07 per cent 2017 government paper remained illiquid

The call rates closed at 7.25-7.50 per cent levels today after opening at 6.50-6.75 per cent levels as against Monday's closing of 7.00-7.25 per cent

The RBI mopped up Rs 20 crore through the morning reverse repo auction and infused Rs 20,630 crore

The central bank infused Rs 825 crore through its second reverse repo auction at 6.25 per cent while the reverse repo bids aggregated to Rs 7,585 crore

Dealers expect the buying interest to revive only once the liquidity situation improves