Re ends lower, Forwards trade at premium

MARKETS REPORT

Forex market

Outlook: The rupee is expected to open in the range of 45.40-45.44 against the greenback on Wednesday.

Market Sentiment: Flat

• The rupee opened at 45.41/45 per dollar and ended lower 45.4250/4350. It touched an intraday low of 45.4625.
• Forward dollars traded at premium. Annualised premium on one-year dollar ended at 0.15 per cent.

Money market

Sentiment: Bearish

• Government securities opened higher but fell later in the day on profit selling.
• Prices of long-term securities fell by 10 paise, while those of medium-term gilts remained unchanged.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed at 5.29 per cent, up from 5.28 per cent on Monday.
• Call money rates were comfortable.
• Repo subscriptions stood at Rs 13,000 crore.