Spot rupeee ends at 46.37/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46.33/38 to a dollar.

Sentiment: Dull

The spot rupee opened at 46.35/36 and closed around 46.36/37 after reaching an intra-day low of 46.4650 to a dollar, following importer demand.

Six-month and one-year forward dollar premiums ended flat at 1.08 and 1.23 per cent, respectively.

Money market

Sentiment: Bullish

Prices of government securities moved up by around 5-10 paise.

The yield on 10-year benchmark paper closed at 8.12 per cent.

Call rates ruled around 5.8/5.9 per cent with the Reserve Bank of India (Rs) absorbing around Rs 42,000 crore.

Trading was muted as banks are awaiting the outcome of the US Fed meeting.

Corporate bond market remained lacklustre.