Re ends lower at 44.24/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 44.20-25 to a dollar.

Sentiment: Bearish

The spot rupee opened at 44.19/21 but closed at a low of 44.23/24 to a dollar after reaching an intraday high of 44.1550.

The annualised premium for six-month forward dollar closed at 3.63 per cent.

Money market

Sentiment: Lacklustre

Prices of government securities opened on a weak note but moved up following value buying at low prices.

Prices of gilts across maturities went up by 20-30 paise.

The yield on the 10- year benchmark security 8.07 per cent 2017 closed at 7.87 per cent.

Call rates eased below 8 per cent to 7.75 per cent even as the RBI infused liquidity of around Rs 12,000 crore.

The fiscal measures taken by the government to bring down inflation helped in taming the market concern on rising inflation to a large extent.