Re advances to 43.52/$

MARKETS REPORTS

Forex market

Outlook
The spot rupee is expected to open in the range of 43. 50/53 to a dollar on Wednesday.

Sentiment: Dull

The spot rupee opened at 43.53/54 and lost to 43.5550 before closing at 43.5250 to a dollar.

Forward dollars remained rangebound with six-month and one-year dollars closing at 1.46 per cent and 1.3 per cent, respectively.

Money market

Sentiment: Bullish

Gilt prices moved up by 10-15 paise across the board backed by the reassuring statement of the finance minister on interest rates staying benign.

The 10-year 7.38 per cent 2015 gilt closed at 6.89 per cent.

Call rates zoomed up to 6.25 per cent with reverse repo bids at only Rs 3,600 crore.

Corporate bond market remained lacklustre.