Re slips to 43.53/$, gilts steady

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the 43.51/54 range against the dollar on on Tuesday

Sentiment: Choppy

The spot rupee opened and closed at 43.52/53 against the dollar

Forward dollars came down following heavy demand for cash dollars that are in short supply

Six-month and one-year dollars closed at 0.76 per cent and 0.81 per cent, respectively

Money market

Sentiment: Bearish

Government security prices remained flat, opening higher and then declining during the day

The 10-year 7.38 per cent 2015 paper closed at 7 per cent

Calls were comfortable at 4.5/5.0 per cent with reverse repo bids at Rs 31,295 crore

The market is jittery apprehending another rate hike in the forthcoming FOMC meeting