Re ends lower at 43.57/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43. 54/58 to a dollar on Tuesday.

Sentiment: Bullish

• With euro gaining globally over the dollar, the spot rupee was ruling at 43.48/50 but short covering by banks saw the rupee close at 43.57/58 to a dollar.
• Forwards tracked the spot rupee with the six-month and one-year dollars closing at 1.32 per cent and 1.22 percent respectively.

Money market

Sentiment: Bullish

• Gilt prices went up following benign inflation and chances of no rate hike in the forthcoming July credit review.
• Prices of long and medium-tenure papers went up by 15-35 paise following a small rally in short-tenure gilts.
• The benchmark 10-year 7.38 per cent 2015 closed at 6.91 per cent .
• Call rates remained comfortable with reverse repo bids at Rs 8300 crore.
• Trading in corporate bonds market remained active.