Rupee ends at a 1-week low

MARKETS REPORT

Forex market

Outlook: The rupee is expected to open in the range of 45.95-46.10 per dollar on Wednesday.

Sentiment: Bearish

• The rupee ended at a one week low of 46.0900/0950 per dollar, compared with the previous close of 45.9500/9600, on dollar demand from oil firms.
• Forward premiums inched up. Annualised premium on the six-month dollar rose to 1.69 percent from 1.53 per cent previously.

Money market

Sentiment: Bearish

• Government securities prices were rangebound today as cautious investors offloaded positions ahead of a two-day US Federal Reserve meeting.
• Prices of short- and medium-term papers fell by 10-40 paise.
• Yield on the benchmark 10-year security closed at 5.8435 per cent, compared with 5.7996 per cent on Monday.
• Call money rates closed unchanged at 4.25-4.50 per cent amid comfortable liquidity and limited demand.
• Subscriptions to the seven-day repo stood at Rs 20,315 crore.