Rupee ends at 45.99/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 45.97/46 to a dollar.

Sentiment: Dull

The spot rupee opened at 46.07/12 but recovered to close at 45.98/99 following a short lived recovery in the equity market.

Six-month and one-year forward dollar premiums closed at 0.80 per cent and 0.99 per cent.

Money market

Sentiment: Bullish

Government securities' prices went up by 12-15 paise on the back of mellowing oil prices.

Call rates ruled around 5.8/5.83 per cent with the RBI absorbing around Rs 50,675 crore from the market.

Yield on the 10-year paper closed around 7.79 per cent after reaching an intraday low of 7.77 per cent.

The cut-off yield on the 91-day and 182 day t-bill shot up to 6.19 per cent and 6.50 per cent respectively.

Sentiment in the market also improved with decline in the yields of the US treasury bonds.