Re ends firm at 44.28/$

MARKETS REPORT

Forex Market

Outlook:
The spot rupee is expected to open in the range of 44.23-28 to a dollar on Monday.

Sentiment:Bearish

Matching inflows and outflows, led to balanced movement in the spot rupee.

The spot rupee opened at 44.28/29 and closed around 44.27/28 after hitting an intraday low of 44.34/35 to a dollar

The annualised premium for six-month forward dollar closed at 3.75 per cent.

Money Market

Sentiment: Bearish

Prices of government securities moved up during the day anticipating cancellation of a scheduled auction

The yield on 10-year paper closed at 7.80 per cent

Even if the inflation figured on the higher side, the market did not react much since it was already factored in

Call rates ruled easy around 7.90/8 per cent with the RBI infusing liquidity of Rs 12,000 crore into the market

The RBI announced the auction of 7.94 per cent 2021 for a notified sum of Rs 5000 crore