FII inflows push rupee to 43. 62/$

MARKETS REPORT

Outlook
The spot rupee is expected to open in the range of 43.59/63 to a dollar on Monday.

Sentiment: Moderate

The spot rupee opened at 43.67/68 but recovered to 43. 61/62 to a dollar backed by FII inflows.

Premium on forwards remained higher with six-month and one-year dollars closing at 1.12 per cent and 1.13 per cent.

Money market

Sentiment: Bullish

Value buying and lower inflation saw active trading in short-term papers, which spilled over to long-term gilts as well.

Prices of short-term papers went up by 30-35 paise, while long-term gilt prices went up by 15-20 paise.

The 10-year paper 7.38 per cent 2015 closed at 6.88 per cent against 6.91 per cent on Thursday.

Call rates ruled at 5.05 per cent, while reverse repo bids stood at Rs 24,000 crore.