Re ends at 45.45/$

MARKETS REPORT

Outlook:
The spot rupee is likely to open in the range of 45.40- 46 against the dollar.

Sentiment: Bearish

The spot rupee opened at 45.07/09 against the dollar but fell to an almost 8-month low of 45.56 before closing at 45.44/45

Following dollar sales by exporters, the premiums on six-month and one-year dollar forwards closed lower at 0.96 per cent and 1.06 per cent, respctivly, as against 1.11 per cent and 1.15 per cent earlier.

Money market

Sentiment: Bearish

Tracking the rising yields of the US treasury bonds, gilt prices fell by 20-30 paise across all maturities

The yield on the 10-year gilt closed at 7.59 per cent as against 7.54 per cent last week

Call rates ruled at 5.50-560 per cent with the RBI absorbing around Rs 50,000 crore from the market

Foreign bankers and mutual funds were the major sellers in the market

Corporate bonds market remained lacklustre