Re slips to 43.77 on RBI intervention

MARKETS REPORTS

Outlook: The spot rupee is expected to open in the range of 43.75/78 to a dollar on Tuesday.

Sentiment: Volatile

• The spot rupee opened at 43.76/77 to a dollar on Monday and jumped up later to 43.64. It slipped to close at the opening level, backed by RBI intervention.
• Forward dollar premiums inched up marginally on importer covering. The six-month and one-year forward dollars closed at 1.66 per cent and 1.40 per cent, respectively.

Money market

Sentiment: Moderate

• Prices of government securities remained range-bound on Monday.
• Gilt prices across maturities moved in a band of 20-25 paise.
• The 10-year benchmark 7.38 per cent 2015 paper closed at 7.49 per cent as against a close of 7.46 per cent last weekend.
• Call rates ruled in the 4.70/75 per cent range and reverse repo bids were at Rs 13,260 crore.
• The spread between the triple A, five-year bond and the underlying gilt ruled at 50 basis points.