Re firms up 43.20/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in a wide band of 43.05-43.15 to a dollar.

Sentiment: Volatile

• The spot rupee opened at 43.52 but gained to close at a wide band of 43.15/20 to a dollar.
• Forward premium fell on the back of dollars sales by banks with six month and one year premia at 1.40 per cent and 1.22 per cent.

Money market

Sentiment: Bearish

• The gilt prices went up by 5-10 paise in response to the yuan revaluation.
• Prices of long and medium term gilts rose by 50 paise and 15-20 paise respectively.
• The ten year paper 7.38 per cent 2015 closed at 7.14 per cent.
• Call rates ruled at 5.05/10 per cent and reverse repo bids came down to Rs 12,000 crore.
• Corporate bond market remained lacklustre.