Re ends down at 46.54/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46.51-55 to a dollar.

Sentiment: Dull

The spot rupee opened at 46.51/52 and closed around 46.53/54 to a dollar.

The annualised premia for six month and one year forward dollars closed at 1.43 per cent and 1.39 per cent respectively.

Money market

Sentiment: Bullish

The government securities market remained bullish with the government deciding not to accord SLR status to oil bonds and Us fed not considering another Fed rate hike.

The prices of government securities went up by 15-30 paise across maturities.

The yield on the ten year paper closed at 7.89 per cent.

The call rates ruled in the range of 6.05-6.10 per cent with the RBI absorbing around Rs 46,000 crore.

There was some profit booking by the banks to settle positions before the end of the month.