Re appreciates to 43.58/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43.57/60 to a dollar on Friday.

Sentiment: Dull

The spot rupee opened at 43.62/63 to a dollar and closed at 43.58/59 as a reaction to the euro appreciation.

Forward premiums came off slightly with the six-month and one-year dollars closing at 1.33 per cent and 1.22 per cent respectively.

Money market

Sentiment: Dull

Rising oil prices and the scheduled auction dragged down government prices.

The benchmark 10-year 7.38 per cent 2015 closed at 6.95 per cent against a close of 6.92 per cent on Wednesday.

Prices of long-tenure gilts fell by almost 50 paise, whereas short and medium-tenure prices came off by 20-25 paise.

Call rates hovered at 5.10/15 per cent, while reverse repo bids stood at Rs 10,000 crore.

Corporate bond market was moderately active.