Re moves up to 43.54/$

MARKETS REPORT

Forex market

Outlook: The spot rupee is expected to open in the range of 43. 54/58 to a dollar on Tuesday.

Sentiment: Bearish

• The spot rupee opened at 43.57 but gained to close at a high of 43.53/54 following dollar sales by banks to square up positions.
• Six-month and one-year forward dollars closed at 0.85 per cent and 0.87 per cent respectively.

Money market

Sentiment: lacklustre

• Prices of government securities remained rangebound in a band of 10-15 paise.
• The top traded 10.25 per cent 2021 gilt, however, moved up by 50 paise on brisk trading.
• The 10-year 7.38 per cent 2015 gilt closed flat at 7.02 per cent.
• Call rates closed at 5 per cent with reverse repo bids at Rs 37,000 crore.
• Corporate bond market remained active with active secondary market trading.