Re ends weaker at 44.73/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 44.72-76 to a dollar.

Sentiment: Dull

The spot rupee opened at 44.70 and closed around 44.72/73 after reaching a low of 44.7450.

The annualised premiums for the six-month and one-year forward dollars closed at 3.16 per cent and 2.69 per cent, respectively.

Money market

Sentiment: Dull

The government securities market remained rangebound with no fresh triggers for the market.

The prices of gilts moved in a narrow band of 2-3 paise, especially in the benchmark segment of the maturity.

The yield on the benchmark 10-year paper closed at 7.58 per cent, a tad lower than a close of 7.59 per cent on Tuesday.

Call rates remained higher at 8.20/8.30 per cent since the liquidity conditions posed continued tightness.

The RBI injected liquidity to the tune of around Rs 11,000 crore.

The cut off yield on the 91-day t-bill was at 7.10 per cent whereas the 364-day t-bill auction got cleared at a cut-off yield of 7.2350 per cent as against 6.93 per cent in the last auction.