Re slipped to 45.91/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the 45.95/96 range to a dollar on Tuesday

Sentiment: Bearish

The spot rupee opened at 45.62/63 to a dollar and slipped to 45.90/91 before closing for the day at 45.90/91 to a dollar

Premuims on the six-month and one-year forward dollars closed at 0.41 per cent and 0.39 per cent, respectively

Money market

Sentiment: Bearish

Prices of government securities fell by 15-20 paise ahead of the auction

The ten year paper remained illiquid and closed at 6.997 per cent

Traders are wary that auction bidding would be higher because of tight liquidity

Call rates closed at 5.65/5.75 with reverse repo bids aggregating to Rs 6190 crore

Liquidity is tight as the government is sitting on huge cash supplies