Rupee ends higher at 45.8350/$

MARKETS REPORT

Forex market

Outlook: The rupee is expected to open between 45.82 and 45.84 against the greenback on Wednesday.

Sentiment: Bullish

• The rupee opened at 45.8550/8650 per dollar and closed higher at 45.8350.
• Premiums on forward dollars ended lower. Annualised premium on six-month dollar closed at 1.91 per cent compared with 1.92 per cent previously.

Money market

Sentiment: Bullish

• Government security prices moved up in an after-effect to the Monday's announcement of lower government borrowings target.
• Prices of long-term securities gained Re 1 to Rs 1.50, while those of medium- and short-term gilts barely budged.
• Yield on the ten-year benchmark gilt closed marginally lower at 6.12 per cent, compared with Monday's close of 6.1350 per cent.
• Call money rates ended higher at 4.75-4.95 per cent.