Re drops to 43.53/$

MARKETS REPORTS

Forex market

Outlook: Outlook The spot rupee is expected to open in the range of 43.52/55 to a dollar on Friday.

Sentiment: Dull

• The spot rupee opened at 43.54 and closed at 43.5350 to a dollar.
• Forward premiums closed flat with six-month and one-year dollars ending at 1.52 per cent and 1.33 per cent respectively.

Money market

Sentiment: Bearish

• Apprehension of a rate hike led to a lacklustre government securities market.
• Prices of the government securities moved up by 10-20 paise across maturities.
• The 10-year 7.38 per cent 2015 gilt closed at 7.20 per cent.
• Call rates moved up to 5.60 per cent, while reverse repo bids were at Rs 7985 crore.
• Very few nationalised banks participated in the market.