Re ends higher at 44.53/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 44. 50-56 to a dollar.

Sentiment: Bullish

Dollar weakness globally saw the rupee open firm at 44.62 and end higher at 44.53 against the greenback.

The annualised premiums for six-month and one-year forward dollars closed at 2.15 per cent and 2.02 per cent, respectively.

Money market

Sentiment: Dull

The market witnessed a bout of profit taking in the beginning of the trading session while there was trading interest towards the end.

While prices remained flat during the day, it fell in the morning by 10 paise across medium-tenure securities.

The yield on the 10-year paper closed at 7.39 per cent .

The call rates closed at 6.10/6.15 per cent with the RBI absorbing around Rs 30,000 crore from the market.

Crude prices globally will be crucial for the market movements.