Re ends marginally higher at 45.18/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 45.15/18 against the dollar on Thursday.

Sentiment: Bullish

The spot rupee opened at 45.14/15 and edged up to 45.10 before closing at 45.17/18 on the back dollar buying by PSU banks.

Forward premia went up owing to corporate demand. The six-month and one-year premiums closed at 2.35 per cent and 2 per cent, respectively.

Money market

Sentiment: Bearish

The gilt prices went up in the morning but fell on the back of statements by the RBI governor at the banking conference at New Delhi. Y V Reddy said liquidity has moved from soft from neutral due to improved credit offtake.

There was a net movement of 50 paise in prices of short and medium-term papers.

The benchmark 7.38 per cent 2015 paper closed at 7.19 per cent.

Call money rates softened to 6 per cent. The market drew liquidity from the RBI to the tune of Rs 7080 crore.