Re ends high at 44.70/$

MARKETS REPORT

Forex market:

Outlook:
The spot rupee is expected to open in the range of 44.68-73 to a dollar

Sentiment: Bearish

The spot rupee opened at 44.56/57 to a dollar and closed at a high of 44.69/70 to a dollar following dollar demand from oil companies.

With easing liquidity, the six-month and one-year dollars closed at 1.54 per cent and 1.53 per cent respectively.

Money market

Sentiment: Cautious

Liquidity was easy with call rates ruling around 5.60-75 per cent.

The yield on 8.07 per cent 2017 gilt closed at 7.54 per cent.

Prices of government securities moved up by 20-30 paise but came off towards the end of the day.

Yield on commercial papers came down from highs of 8.05 per cent to 7.70/7.75 per cent.