Re ends lower at 45.92/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 45.85-45.92 against the dollar onm Monday.

Sentiment: Bullish

The spot rupee opened at 45.85-45.86 but fell to close at 45.91-45.92 before reaching an intra-day low of 45.99 against the dollar

The annualised premiums for six-month and one-year forward dollars closed at 1.25 per cent and 1. 27 per cent, respectively.

Money market

Sentiment: Bulliish

Heavy buying demand by public sector banks led to a rally in the government securities market

The prices of gilts moved up by 40-50 paise across maturities

The yield on the ten-year benchmark paper closed at 7.6250 per cent as against 7.68 per cent on Thursday

The call rates, however, ruled higher at 6.56 per cent and even inched up to an intra-day high of 6.70 per cent.

The RBI absorbed around Rs 14,000 crore from the market through reverse repo bids