Re closes at 43.72/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to trade in the range of 43.70/73 per dollar on Wednesday.

Sentiment: Dull

• The spot rupee opened and closed at 43.72 per dollar after touching an intra-day high of 43.6775 on the back of foreign inflows.
• Premiums on the forward dollar closed rangebound. The six-month and one-year dollars ended at 1.40 per cent and 1.60 per cent, respectively.

Money market

Sentiment: Bearish

• The market was bogged down by higher government expenditure and fiscal deficit.
• Prices of long-term papers fell by almost Re 1 while the prices of medium and short-term papers declined by 60-70 paise and 20-30 paise, respectively.
• The ten-year benchmark yield wound up at 6.65 per cent compared with 6.55 per cent on Monday.
• Call rates closed easy at 4.60/70 per cent with reverse repo bids at Rs 40,600 crore.