Re ends at 45.91/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is likely to open in the range of 45.85 to a dollar on Wednesday.

Sentiment: Bearish

The spot rupee further ended at 45.90/91 on account of month-end pressure after having opened at 45.84/86.

The six-month forward premium closed at 0.68 per cent, while the 12-month premium closed at 0.57 per cent on paying pressure in the market.

Money market

Sentiment: Bearish

Prices of short tenure gilts inched up backed by a fall in crude oil prices and soft US treasury yields.

The yield on the 9-year gilt closed unchanged at 6.96 per cent.

Call rates closed around the reverse repo rate at 5.25/5.35 per cent.

RBI accepted 14 bids aggregating Rs 4,975 crore at the one-day reverse repo auction at 5.25 per cent.

It accepted six bids aggregating Rs 570 crore at 5.25 per cent under the second liquidity adjustment.