Re closed firm at 43.82/$ as RBI bought dollars

MARKETS REPORTS

Forex market

Outlook: The rupee is expected to open in the 43.79/82 range to a dollar on Tuesday.

Sentiment: Dull

• With New York market closed, the spot rupee remained rangebound.
• The rupee closed firm at 43.81/82 as RBI bought dollars. The 6-month and 1-year forward premiums closed at 1.70 per cent and 1.50 per cent respectively.

Money market

Sentiment: Bullish

• Apprehensions on the tap sale of state government loan led to profit booking in the market.
• Gilt prices across maturities fell by 10-15 paise.
• The benchmark 2015 gilt yield closed at 6.51 per cent.
• Call money rates ruled at 4.75/80 per cent and reverse repo bids were at Rs 13,695 crore.