Re ends firm at 44.13/$

MARKETS REPORT

Forex Market

Outlook:
The spot rupee is expected to open in the range of 44.09-14 to a dollar.

Sentiment:Bullish

Portfolio inflows saw the rupee open at 44.07/08 but it fell to a low of 44.15/16 on dollar buying by public sector banks before closing the day at 44.12/13.

Annualised premium on six-month forward dollars closed at 3.30 per cent respectively.

Money Market

Sentiment: Dull

The market opened with a bearish note following the news of conversion of bank recapitalisation bonds to SLR securities.

Government securities, however, during the end of the day moved up by 10-20 paise, mostly in benchmark securities.

The yield on the 10-year paper closed at 8.02 per cent .

Call rates inched up to 8.14/20 per cent following a liquidity crunch.

The RBI injected around Rs 8700 crore into the market.