Re ends slightly weaker at 44.29/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 44.23-28 to a dollar on Monday.

Sentiment: Volatile

The spot rupee opened at 44.25/26 and closed at 44.28/29 after reaching an intraday low of 44.33 during the day.

The annualised premium on six-month and one-year forward dollars closed at 3.62 per cent and 3.00 per cent respectively.

Money market

Sentiment: Volatile

Government securities moved up 7-10 paise in benchmark securities tracking the fall in US treasury yields.

The yield on 10-year benchmark paper closed at 7.55 per cent .

Call rates eased to 6.75/6.8 per cent with easing liquidity conditions.

The government announced the auction of dated securities for a notified amount of Rs 4000 crore against the scheduled amount of Rs 9000 crore.

The RBI absorbed around Rs 5185 crore from the market.

Rising inflation at 5.48 per cent remains a concern.