Re ends lower at 44.08/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 44.05/09 per dollar on Thursday.

Sentiment: Bearish

• The greenback's global rebound and importer covering led to the rupee depreciating to 44.06/08 per dollar.
• Forwards inched up with six-month and one-year premiums closing at 1.61% and 1.21%, respectively.

Money market

Sentiment: Dull

• Sentiment turned cautious following a sharp fall in benchmark 10-year yields from 7.20% to 6.72% levels.
• Prices of gilts moved in the range of 20/25 paise.
• Call rates ruled at 4.65/75 per cent; reverse repo bids drew Rs 17,000 crore subscription.
• The cut-off for 91-day and 364-day treasury bills were market-related at 5.16 per cent and 5.65 per cent, respectively.