Re ends lower at 46.14/$

Forex market

Outlook:

The spot rupee is expected to open in the range of 46.10-14 to a dollar.

Sentiment: Bullish

The spot rupee opened higher at 45. 96/98 after closing last week at 46.06 to a dollar. Driven by dollar demand from a corporate, it ended lower at 46.13/14 .

The annualised premium on six-month and one-year forward dollars closed at 1.14 per cent and 1.22 per cent respectively.

Money market

Sentiment: Bearish

On the eve of the auction, prices of government securities fell across maturities with a 6-7 basis point rise in yields.

Prices of government securities fell by almost 30-40 paise.

The yield on the 10-year paper closed at 8.28 per cent.

Call rates ruled around 5.8/5.9 per cent with the RBI absorbing around Rs 52,800 crore.

The market is expecting the cut-off yield on 10-year paper on Tuesday to hover in the range of 8.28-30 per cent at the auction.