Re firms up to 43.67/$; bonds rally

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43. 64/68 to a dollar.

Sentiment: Moderate

The spot rupee opened at 43.69 and closed rangebound at 43.66/67 to a dollar.

Forwards sharply went up with interbank posiitons in dollars. The six-month and one-year premiums closed at 2.09 per cent and 1.63 per cent.

Money market

Sentiment: Dull

Prices remained rangebound during the day but perked up by 10-15 paise across maturities on declining oil prices.

The benchmark 10-year 7.38 per cent 2015 closed at 6.70.

Call rates remained comfortable with reverse repo bids at Rs 21,840 crore.

Despite huge liquidity, market remained cautious over the uncertainty in oil prices.