Re moves up to 43.61/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee was expected to open in the range of 43. 60/64 to a dollar on Monday.

Sentiment: Dull

• The spot rupee opened at 43.63 and closed a tad higher at 43.61 to a dollar.
• The six-month and one-year forwards closed at 1.53 per cent and 1.33 per cent respectively.

Money market

Sentiment: Bearish

• Despite a moderate inflation figure, there was heavy selling in gilts.
• The yield on 10-year 7.38 per cent 2015 gilt closed at 7.20 per cent against a close of 7.14 per cent
• Prices of long-tenure gilts fell by 15-20 paise, whereas short-tenure gilts fell by almost 10 pasie.
• Call rates reached a high of 6 per cent owing to demand for reporting Friday.
• Reverse repo bids were at Rs 5,800 crore as the period was for three days.
• Part of the bearishness was attributed to apprehension of a reverse repo rate hike in the July policy review.