Re advances to 43.44/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43.43/46 to a dollar on Wednesday.

Sentiment: Bullish

The spot rupee opened at 43.48/49 but rose to 43.4225 before closing at 43.43/44 to a dollar on the back of capital inflows.

Six-month and one-year forward dollars closed at 1.62 per cent and 1.42 per cent respectively.

Money Market

Sentiment: Bullish

A delay in the announcement of the state development loan and participation of LIC cheered the gilts market.

Prices of long-term gilts went up by 50 paise, whereas medium-term prices moved up by 20-25 paise.

The benchmark 10-year 7.38 per cent 2015 closed at 7.20 per cent, while the 12-year 8.50 per cent 2017 closed at 7.43 per cent