Re rises to 43.93/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43.92/96 per dollar.

Sentiment: Bearish

Trade inflows led to rupee rising to 43.93 per dollar after opening at 44.01.

Forward premiums inched up owing to dollar demand from interbank players. The six-month and one-year premiums ended at 2 per cent and 1.5 per cent, respectively.

Money market

Sentiment: Bearish

There were concerns about liquidity following the rise in the dollar and fall in the equity markets.

Government securities prices fell across the board by 20-35 paise.

The benchmark 7.38 per cent 2015 closed at a yield of 6.58 per cent as against 6.55 per cent on Saturday.

Call money rates ruled around 3.5 per cent with reverse repo bids at over Rs 10,000 crore.