Re ends higher at 44.82/$

MARKETS REPORT

Outlook: The spot rupee is likely to open in the range of 44.75-85 to a dollar.

Sentiment: Bullish

The spot rupee opened at 44.88 but closed at more than a 5-month high of 44.82 following dollar supplies from exporters and foreign funds.

The annualised premium on six-month and one-year forward dollars closed at 1.96 per cent and 1.79 per cent, respectively.

Money market

Sentiment: Bearish

The yield on the benchmark 10-year paper closed at 7.62 per cent against 7.60 per cent on Thursday.

Call rate closed at 6.95 per cent, while the RBI absorbed Rs 8,315 crore from the market.

RBI set a cut-off price of Rs 99.54 for the 2012 gilt corresponding to a yield of 7.5035 per cent and Rs 94.23 for the 2034 bond, corresponding to a yield of 8.0199 per cent.

RBI has announced the auction of 91-day t-bills and 364-day t-bills for Rs 2000 crore each on November 8.