Re ends higher at 45.59/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 45.55-60 to a dollar.

Sentiment: Bullish

The spot rupee opened at 45.66/67 and closed higher at 45.58/59 following dollar sales by foreign banks and corporates.

The annualised premia for six month and one year forward dollars closed at 1.33 per cent and 1.36 per cent respectively.

Money market

Sentiment: Bullish

Apprehension on auction announcement made the banks sell government securities to create new positions next week.

The prices fell in the short and medium end of the maturity by 2-5 paise, whereas it went up by 7-10 paise in the long term.

The yield on the ten year paper closed at 7.5950 per cent.