Re ends higher at 46.57/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46.54-60 to a dollar.

Sentiment: Bullish

Tracking the cross currency movement, the spot rupee closed higher at 46.56/57 to a dollar after opening at 46.76/77 .

The annualised premium on six-month and one-year forward dollars closed at 1.01 per cent and 1.14 per cent, respectively.

Money market

Sentiment: Bullish

Prices of government prices moved up 15-20 paise across maturities driven by trading volumes.

The yield on the 10-year paper closed at 8.29 per cent.

Call rates ruled around 6.05/10 per cent with reverse repo bids around Rs 48,000 crore.

Trading volumes average around Rs 900-1000 crore on the NDS platform.

When-issued transaction volumes continued to remain subdued.