Re ends marginally higher at 40.52/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open 40.47-53 to a dollar.

Sentiment: Bullish

The spot rupee opened and closed around 40.51/52 after rising to day's high of 40.46-47 to a dollar.

The annualised premium for six-month and one-year forward dollars closed at 2.29 per cent and 2.52 per cent respectively.

Money market

Sentiment: Bearish

The government securities market opened weaker but prices recovered during the day owing to trading interest.

The prices of gilts moved up by 10-15 paise during the day.

The yield on the 10-year benchmark paper closed at 8.14 per cent.

Liquidity remained comfortable with the call rate closing around 0.25 per cent.

The RBI received bids worth Rs 87,400 crore under reverse repo even as it could absorb only Rs 3000 crore.