Re ends tad lower at 40.57/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 40.52-60 to a dollar.

Sentiment: Flat

The spot rupee opened at 40.54/55 and closed a tad lower at 40.56/57 after reaching an intraday low of 40.60 to a dollar.

The annualised premium for six-month and one-year forward dollars closed at 4.41 per cent and 3.80 per cent respectively.

Money market

Sentiment: Bearish

Apprehension over a possible CRR hike marred market sentiment.

Prices of government securities fell by 15-20 paise across maturities.

The yield on 10-year benchmark paper closed at 8.17 per cent against a close of 8.12 per cent on Tuesday.

Liquidity remained comfortable with call rates closing around 7.50 per cent.

The RBI infused around Rs 5500 crore through repo .