Re ends higher at 44.24/$

MARKETS REPORT

Forex market

Outlook
Traders expect the rupee to open at 44.30 on Monday

Sentiment: Bearish

The rupee gained ground against the greenback to close at 44.24 per dollar buoyed by huge FII inflows

In the forwards segment, the six-month premium closed at 2.15 per cent and 12-month premium at 1.61 per cent

Money market

Sentiment: Bearish

Prices of short-tenure government stocks moved in a tight range while long-end gilts were not traded today

The 8.07 per cent 2017 government paper stood at 7.21 per cent in a lacklustre market

Call rates closed at 6.40 per cent with some trades having taken place at 7 per cent

The RBI mopped up Rs 20 crore through the morning reverse repo auction and infused Rs 12,440 crore into the system

The apex bank infused Rs 1,805 crore through its second reverse repo auction at 6.25 per cent while the reverse repo bids aggregated to Rs 445 crore