Re moves up to 43.50/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43. 48/52 to a dollaron Tuesday.

Sentiment: Bullish

• The spot rupee opened at 43.5250 and moved up to 43.48 backed by forex inflows before closing at 43.5050 to a dollar.
• Forwards remained rangebound with the six-month and one-year dollars closing at 1.46 per cent and 1.34 per cent, respectively.

Money market

Sentiment: Bearish

• Reduced liquidity in the system led to a bearish sentiment in the market.
• Long and medium-tenure gilt prices fell by 40-50 paise, whereas short-tenure gilt prices fell by 15 paise.
• The 10-year 7.38 per cent 2015 gilt closed at 6.92 per cent.
• Call rates moved to above 6 per cent, while reverse repo bids were at around Rs 4000 crore.
• Trades in corporate bonds remained lacklustre.