Re ends lower at 45.17/$

MARKETS REPORT

Forex market

Outlook
The rupee is expected to open between 45.15 and 45.19 against the greenback on Tuesday.

Sentiment: Bullish

The rupee opened at 45.15 per dollar and closed slightly lower at 45.17 on dollar buying by public sector banks. It hit an intraday low and high of 45.20 and 45.08.

Premiums on forward dollars came off. Annualised premiums on six-month and one-year dollars closing at 2.55 per cent and 2.07 per cent respectively.

Money market

Sentiment: Bearish

The market remained cautious ahead of the results of the Rs 8,000 crore government paper auction.

Government security prices fell by 50 paise across all maturities.

The yield on the benchmark 7.38 per cent 2015 gilt closed at 7.28 per cent. It hit an intraday high of 7.33 per cent.

Call money rates ended at a high of 6.95 per cent.

Market players drew refinance from repo and export refinance windows at 6 per cent.