Re ends weaker at 44.25/$

MARKETS REPORT

Forex Market

Outlook:
The spot rupee is expected to open in the range of 44.19-25 to a dollar on Friday.

Sentiment:Bearish

The spot rupee opened at 44.19/20 but closed at a low of 44.24/25 following strong intervention by the RBI and import covering.

The annualised premium for six-month forward dollar closed at 3.02 per cent.

Money Market

Sentiment: Bearish

Prices of government securities fell by 10-30 paise across maturities on concerns on the outcome of the Budget.

The yield on 10-year paper closed at 7.96 per cent against 7.92 per cent on Wednesday.

Liquidity remained adequate with call rates hovering in the range of 6/6.5 per cent.

The RBI absorbed liquidity of Rs 9,045 crore from the market.