Re ends at 46.03/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46.01-05 to a dollar.

Sentiment: Bearish

The spot rupee opened weaker at 45.96 against the dollar following dollar demand from custodian banks for their FII clients and positions in the NDF market

Rupee closed at 46.03 after hitting an intraday low of 46.06

The premium on six-month and one-year forward dollars closed at 1.05 per cent and 1.12 per cent

Money market

Sentiment: Bearish

Prices of government securities remained bearish as players expect yields to further go up in run-up to the July policy review and Fed meeting on June 29.

Prices of securities moved in a range of 5-10 paise across maturities.

The yield on the 10-year paper closed around 7.82 per cent.

Call rates closed comfortable at 5.6/5.7 per cent with the RBI absorbing around Rs 48,270 crore from the system.