Markets Report

Money market

Sentiment: Bearish

• Uncertainty over long-term interest rates made illiquid government securities active.
• Prices of medium-term papers gained by 25-30 paise.
• The yield on the ten-year benchmark paper ended at 5.22 per cent.
• Call money rates ended higher at 4.25-4.50 per cent compared with 4.10-4.30 per cent on Monday.
• Repo susbcriptions stood at Rs 50,000 crore.

Forex market

Sentiment: Bullish

• The rupee opened at 45.2350/2450 per dollar and closed at 45.2350 before touching an intraday high of 45.20.
• Forward premiums on dollars surged on the back of corporate demand. Annualised premiums on six-month and one-year dollars ended at 0.39 per cent and 0.48 per cent respectively.

Outlook

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The rupee is expected to open between 45.22 and 45.25 against the dollar on Wednesday.