Re ends marginally weaker at 44.69/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 44.67-44.72 against the dollar

Sentiment: Volatile

The spot rupee opened at 44.66 and driven by the impact of depreciating cross currencies, it fell to a low of 44.77 before closing for the day at 44.69/70 against the dollar

The annualised premiums shot up following tightness in the rupee liquidity with six-month and one-year premiums closing at 2.04 per cent and 1.89 per cent, respectively

Money market

Sentiment: Bearish

The prices of government securities closed flat since the impact of the US data was mixed on the US treasury bonds and so on the domestic securities market as well

The yield on the ten-year paper closed at 7.37 per cent

The announcement of the petroleum ministry on possibility of a downward revision in oil prices perked up the market sentiment

Liquidity was tight with the RBI absorbing around Rs 9,335 crore from the market under the reverse repo bids

The call rates closed around 6.10/6.30 per cent