Re moves up to 43.45/$

MARKETS REPORT

Forex market

Outlook: Spot rupee is expected to open in the 43.42/46 range against the dollar on Thursday.

Sentiment: Bullish

• Spot rupee opened at 43.52/ 53 to a dollar but gained during the day to close at 43.43/45.
• Forward premiums went up due to corporate demand with six-month and one-year at 1.03 per cent and 1 per cent, respectively.

Money market

Sentiment: Bearish

• Apprehension over announcement of auction pushed government securities down
• Prices in the long-term papers fell by 10-15 paise, whereas the short and medium term papers fell by 5-10 paise.
• The ten-year 7.38 per cent 2015 stock closed at 6.97 per cent
• Call money rates closed at 5.05 per cent with reverse repo bids at around Rs 50,000 crore
• The Kerala government will be raising Rs 250 crore from the market