Re ends higher at 44.27/$

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 44.27-32 to a dollar.

Sentiment: Dull

The spot rupee closed at 44.26/27 to a dollar after opening at 44.25 to a dollar, following dollar sales by banks to raise rupee resources.

The six-month and one-year annualised premia on forward dollars closed at 3.76 per cent and 2.98 per cent, respectively.

Money market

Sentiment: Dull

Prices remained flat as liquidity remained tight.

The yield on the ten-year paper and five-year paper closed at 7.63 per cent and 7.54 per cent, respectively.

Call rates closed at 12.25-12.75 per cent after touching 13.25 per cent yesterday.

The Reserve Bank of India (RBI) infused liquidity to the tune of a record Rs 36,000 crore under repo.

The market is wary of trading for fear of booking marked-to-market losses during the quarter-end.