Re ends weaker at 44.25/$

MARKETS REPORT

Forex Market

Outlook:
The spot rupee is expected to open in the range of 44.20-25 to a dollar.

Sentiment:Bullish

The spot rupee opened at 44.20/22 but weakened during the day to close at 44.2325/2425 to a dollar.

The annualised premiums for the six-month and one-year forwards closed at 3 per cent and 2.92 per cent, respectively.

Money Market

Sentiment: Bullish

Building up of portfolio by the banks before the financial year-end pushed up gilt prices.

The prices of gilts across maturities moved up by 20-30 paise.

The yield on the ten-year paper closed at 7.94 per cent.

Liquidity was in surplus in the system since the RBI received bids worth Rs 32,820 crore.

Call rates closed around 5.25 per cent.