Re closes lower at 43.81/$

MARKETS REPORTS

Outlook: The spot rupee is expected to open in the range of 43.78/81 to a dollar on Friday.

Sentiment: Bearish

• The spot rupee opened at 43.73/75 on Thursday and rose to an intra-day high of 43.7150, before closing lower at 43.80/81 on the back of dollar buying by RBI.
• The premium on forward dollars remained range-bound with the six-month and one-year dollars closing at 1.69 per cent and 1.46 per cent, respectively.

Money market

Sentiment: Bearish

• Even as US yields rose due to rising oil prices, government security prices witnessed a small rally on Thursday.
• Prices of short-term gilts went up by 30-40 paise, backed by heavy buying of three-year papers by foreign banks.
• Prices of medium and long-term papers went up by 7-20 paise.
• The 10-year benchmark 7.38 per cent 2015 paper closed at 6.51 per cent.
• Call rates ruled at 4.70/75 per cent with reverse repo bids at around Rs 17,000 crore.