Re climbs to 43.74/$ on capital inflows

MARKETS REPORT

Forex market

Outlook: The spot rupee is expected to open in the range of 43.72/74 to a dollar.

Sentiment: Bullish

• The spot rupee opened at 43.77/78 and rose to 43.73/74 on the back of capital inflows.
• The six-month and one-year forward premiums ended lower at 1.52% and 1.33% respectively, tracking spot rupee.

Money market

Sentiment: Bearish

• Prices of gilts remained rangebound as financial year-end meant slack trading.
• The ten-year yield closed at 6.67 per cent. The ten year yield for valuation of trading portfolio of banks will be released on April 1.
• Call money rates ruled easy at 4.70 per cent.
• Reverse repo bids were at Rs 19,000 crore even as the market players feel that liquidity surplus is much in excess.