Re closes at a 1-week high at 43.57/$

MARKETS REPORT

Forex market

Outlook
Rupee is likely to trade in the range of 43.55 to 43.60 to the dollar on Tuesday.

Sentiment: Bearish

The rupee gained two paise to end at 43.57/43.58 from its previous close of 43.61 to a dollar.

The rupee premia today remained lacklustre with a movement of around 2 paise.

Money market

Sentiment: Bearish

Prices fell in short to medium term papers by 15-20 paise after the auction cut-off proved to be lower than market expectations.

The 8.07 per cent 2017 paper closed at Rs 108.15 lower than day's high of Rs 108.30.

Call money rates were steady at 4.95-5.05 per cent.

Liquidity worth Rs 27,345 crore was sucked out of the system by the Reserve Bank of India (RBI).