Re ends weaker at 43.78/$

MARKETS REPORT

Forex Market

Sentiment:Bearish

The spot rupee opened at Rs 43.30/32 and depreciated sharply to close at Rs 43.77/78 on reports of Reserve Bank of India intervention, dollar buying by oil companies and short covering of positions.

The annualised premiums for the six-month and one-year forwards closed at 9.54 per cent and 4.17 per cent, respectively.

Money Market

Sentiment: Bullish

Liquidity condition eased compared with relatively tight condition yesterday

The yield on 10-year government paper at the close was 7.97 per cent

Call rates ruled in 10-12 per cent range against yesterday's 30 per cent level while Reserve Bank of India infused Rs 17,825 crore in the banking system

The foreign banks sold dollars. The one-month dollar-rupee swap was at 22.25 per cent