Re weakened a tad to close at 44.31/$

MARKETS REPORT

Forex market

Outlook:
The rupee is likely to open at 44.25 against the dollar on Thursday

Sentiment: Bullish

The rupee weakened a tad to close at 44.31 per dollar compared with yesterday's close of 44.29 tracking the dollar's movement overseas

In the forwards segment, six-month premiums closed at 1.94 per cent and the 12-month premiums at 1.41 per cent

Money market

Sentiment: Bearish

Gilt prices were almost flat in the rangebound trade amid tight liquidity

The 8.07 per cent 2017 government paper closed at 7.1854 per cent

Yield on the 91-day treasury bill was 6.19 per cent as against the previous week's close of 5.94 per cent

Call rates closed steady at 7.25 per cent in a cash-tight market

The RBI mopped up Rs 25 crore through the morning reverse repo auction and infused Rs 16,400 crore

RBI infused Rs 8,120 crore through its second reverse repo auction at 6.25 per cent while the reverse repo bids aggregated to Rs 600 crore