Re drops to 43. 57/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43. 55/58 to a dollar on Thursday.

Sentiment: Dull

• The spot rupee opened at 43.53 but closed slightly lower at 43. 57 to a dollar.
• Six-month and one-year forward dollars closed at 1.46 per cent and 1.31 per cent, respectively.

Money market

Sentiment: Bullish

• Gilt prices perked up after the finance ministry said the government has a surplus of Rs 22,000 crore and an increase in reverse repo bids.
• Prices of government securities across the board moved up by 20-30 paise.
• The benchmark 10-year 7.38 per cent 2015 gilt closed at 6.88 per cent.
• Call rates came off from highs of 6 per cent to 5.5 per cent and reverse repo bids were at Rs 5,700 crore.