Re drops to 43.55/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43. 52-56 to a dollar on Tuesday.

Sentiment: Dull

• The spot rupee opened at 43.56/57 and closed at 43.54/55 to a dollar.
• Forward premium also went up with the six-month and one-year dollars closing at 1.59 per cent and 1.37 per cent.

Money market

Sentiment: Bearish

• Government securities prices fell across the board as the market braced itself for the forthcoming auction.
• Prices of long-tenure papers fell by 75 paise, while medium-tenure prices fell by 30-40 paise.
• The 10-year 7.38 per cent 2015 gilt closed at 7.08 per cent.
• Call rates ruled at 5.35/40 per cent with reverse repo bids at Rs 10,785 crore.