Re soars to 46.32/$ at close

MARKETS REPORT

Forex market

Outlook
The rupee is likely to open between 46.30 and 46.36 against the greenback on Monday.

Sentiment: Bearish

• The rupee opened at 46.36/37 per dollar and ended higher at 46.31/32 on dollar sales by the Reserve Bank of India and higher forex inflows.
• Premiums on forward dollars closed higher. Annualised premiums on six-month and one-year dollars closed at 2.79 per cent and 2.50 per cent respectively.

Money market

Sentiment: Bearish

• Government security prices fell initially, but were perked up by buying demand during the fag-end of the trading session.
• Prices of long- and medium-term paper fell by Re 1 and bounced back to end at opening levels.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, ended lower at 6.5 per cent, compared with 6.60 per cent on Wednesday.
• Call rates ended at 4.20-4.30 per cent.
• Subscriptions to one-day repo was around Rs 20,000 crore.