Re ends flat at 46.51/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46.48-54 to a dollar.

Sentiment: Dull

The spot rupee opened at 46.48 and reached a low of 46.5750 before closing for the day at 46.50/51.

The annualised premia for six month and one year forward dollars closed at 1.36 per cent and 1.37 per cent respectively.

Money market

Sentiment: Bullish

The prices of government securities moved up by 15-35 paise across maturities.

The yield on the ten year paper closed at 7.94 per cent

Call rates ruled in the range of 6.05/6.10 per cent with the RBI absorbing around Rs 40,000 crore from the system.

The market is eagerly awaiting the auction announcement from the government and the statements to be issued in the FOMC meeting today.

The oil ministry's demand for according SLR status to the oil bonds have negatively impacted the market since it will increase the supply of such papers.