Re ends weaker at 44.55/$

MARKETS REPORT

Forex Market

Outlook:
The spot rupee is expected to open in the range of 44.52-58 to a dollar.

Sentiment:Volatile

The spot rupee opened at 44.48, rose to a high of 44.4550 before falling to a close of 44.5550.

The annualised premium for six-month and one-year forward dollars closed at 3.02 per cent and 2.68 per cent, respectively, from highs of 3.5 per cent and 2.91 per cent seen on Tuesday.

Money Market

Sentiment: Bearish

Prices of government securities fell by 10- 30 paise across maturities following concerns over inflation.

The yield on 10-year benchmark paper closed at 7.53 per cent against a close of 7.51 per cent on Tuesday.

Call rates continued to rule higher in the range of 8.25/8.5 per cent.

The RBI infused liquidity of Rs 17,000 crore into the market.

The RBI cleared the auction of both 91- and 364-day at a cut-off yield of 7.14 per cent , but accepted a total of Rs 4000 crore through the 91-day paper against the notified amount of Rs 2000 crore