Re ends lower at 46.67/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46.63-67 to a dollar on Monday.

Sentiment: Bullish

Dollar weakening against major currencies globally led the spot rupee to close at a low of 46.67 to a dollar after opening at 46.63 following month-end demand.

The annualised premium for six-month and one-year forward dollars closed at 1.13 per cent and 1.19 per cent, respectively.

Money market

Sentiment: Bearish

The gilts market remained largely cautious ahead of the announcement of auction and anticipating the US economic data.

Prices of government securities fell by 5-10 paise.

The yield on the 10-year paper closed at 8.24/25 per cent.

Call rates moved around 6.05/6.10 per cent, while the RBI mopped up around Rs 44,000 crore from the market.

Corporate bond market saw issues from banks and Power Grid Corporation.

The activity in the market was subdued owing to the strike called by nationalised banks.