Re slips to 43.47/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43.42/48 to a dollar on Monday.

Sentiment: Bullish

The spot rupee opened weak on Friday at 43.43/44 and slipped further to close at 43.4650/47.

Forward dollar premiums went up during the day and came off in tune with the rupee at close. Six-month and one-year dollars closed at 2.09 per cent and 1.71 per cent, respectively.

Money market

Sentiment: Cautious

Prices of government securities remained range-bound on Friday amid apprehension over the auction outcome.

The 10-year benchmark 7.38 per cent 2015 gilt closed at 6.72 per cent.

Government security prices moved in a band of five-seven paise across maturities.

Call rates ruled in the range of 4.70/80 per cent and reverse repo subscriptions were around Rs 21,000 crore.

The spread between the 5-year triple A corporate paper and the underlying government security was around 50 basis points.