Rupee ends near flat at 45.91/$

MARKETS REPORT

Forex market

Outlook: The rupee is expected to open between 45.80 and 45.90 against the dollar on Monday.

Sentiment: Bullish

• The rupee gained during most of the day but closed at 45.90/91 almost similar to the opening level.
• Premiums on forwards market ended flat. Annualised premiums no six-month and one-year dollars closed at 1.93 per cent and 1.57 per cent respectively.

Money market

Sentiment: Bullish

Prices of government securities remained rangebound today.

Headline inflation number was in line with market expectation. Profit selling for the quarter is believed to be close to over.

Yield on the ten-year benchmark paper, 7.37 per cent 2014, closed at 6.03 per cent.

Inter-bank call money rates opened higher at 4.75 per cent but closed easy at 4.30-4.40 per cent.

Surplus liquidity in the system was to the extent of Rs 12,860 crore.