Re ends lower at 46.23/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46.24-28 to a dollar on Thursday.

Sentiment: Bearish

The spot rupee remained flat by opening and closing at 46.23/ 46.2350 to a dollar amid thin volumes.

The six-month and one-year annualised premiums closed at 1.10 per cent and 1.2 per cent respectively.

Money market

Sentiment: Bearish

The government securities prices moved up by 15-20 paise on buying demand at lower prices.

The yield on the 10-year paper closed at 8.37 per cent after opening for the day at 8.40 per cent.

Call rates ruled at 5.8/5.9 per cent with the RBI absorbing funds of Rs 43,000 crore.

There was full subscription to the auction of the treasury bills with cut-off yield for the 91 day t- bill at 6.39 per cent.