Re ends flat at 44.90/$

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 44.85-92 to a dollar.

Sentiment: Bearish

The spot rupee opened and closed around 44.88/90 after reaching an intra-day high of 44.86 and low of 44.93 against the dollar.

Forward premiums on six-month and one-year dollars closed at 1.51 per cent and 1.42 per cent, respectively.

Money market

Sentiment: Bearish

RBI's decision to continue MSS, announcement of government auction and rising Us yields dampened spirits.

The yield on 10-year gilt closed at 7.48 per cent against close of 7.43 per cent last week.

Prices of government securities fell by almost 50 paise owing to selling pressure.

Call rates ruled at 5.5 per cent with reverse repo bids at Rs 57,000 crore.

Corporate bond market remained lacklustre.