Re inches to 43.88/$

MARKETS REPORT

Forex market

Outlook
The rupee looks rangebound taking cues from oil and euro-dollar movement on Wednesday

Sentiment: Bullish

• The rupee closed stronger at 43.87/88
• Robust inflows from foreign investment bolstered the sentiment
• The benchmark six-month forward premium closed at 0.7

Money market

Sentiment: Cautious

• Call rates closed at 5-5.10 per cent with stray deals even at 5.25 per cent
• There has been a downsize in the reverse repo amount on account of advance tax outflows
• The benchmark yield closed at 6.93 per cent
• Investors remained on sidelines ahead of the announcement of a likely rate hike by US Federal Reserve per cent