Re ends lower at 44.29/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43.27-30 to a dollar on Thursday.

Sentiment: Volatile

The spot rupee opened at 44.20/21 and fell to a low of 44.34 before closing the day at 44.28/29 to a dollar.

The six-month and one-year forwards closed at 0.76 per cent and 0.69 per cent, respectively.

Money market

Sentiment: Bearish

The prices of government securities reeled under bearish sentiment.

The market is expecting either a devolvement or high cut-off yield in the auction to be held on Thursday.

The 10-year paper 7.38 per cent 2015 gilt closed at 7.10 per cent.

Prices in the medium and long term maturities fell by 10 paise and 20 paise, respectively.

Call rates ruled comfortable with reverse repo bids at around Rs 30,000 crore.

The RBI announced a cut-off yield of 5.41 per cent for 91- day t- bill against 5.49 per cent last week.