Re slips to 43.37/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43.35/38 to a dollar on Friday.

Sentiment: Bearish

With the yuan revaluation rumour falling flat and dollar gaining globally, the rupee opened at 43.29/30 to a dollar but ended lower at 43.36/37.

The six-month and one-year forward premiums closed at 1.53 per cent and 1.36 per cent, respectively.

Money Market

Sentiment: Bearish

The spot dollar depreciation subdued market sentiment with fears on the liquidity front.

Gilt prices across the board fell by 10-12 paise.

The benchmark 10-year 7.38 per cent 2014 closed at 7.19 per cent, while the 12-year 8.07 per cent 2017 closed at 7.41 per cent.

Call money rates remained high at 5.05-10 per cent, whereas the reverse repo bids stood at Rs 16,850 crore.

Corporate bonds remained lacklustre with no deals.