Re firms up to 43.77/$

MARKETS REPORT

Forex market

Outlook: The spot rupee is expected to open in the range of 43.74/78 to a dollar.

Sentiment: Dull

• The spot rupee opened at 43.75/78 and went up to 43.82/83, backed by interbank demand before coming down to close at 43.75/77 to a dollar.
• Forward premia sharply went up following interbank demand who were reversing their positons built up in anticipation of cash dollar shortage. Six month and one year forward dollars closed at 1.64 per cent and 1.41 per cent respectively.

Money market

Sentiment: Dull

• Prices remained rangebound in government securities.
• The 10-year benchmark 7.38 per cent 2015 gilt closed at 6.55 per cent.
• Call money rates ruled at 4.70 per cent, while reverse repo bids were at Rs 20,000 crore.
• While prices in long-tenure papers remained flat, short and medium-tenure papers saw prices falling by 10-15 paise.