Re slips to 43.60/$

MARKETS REPORT

Forex market

Outlook: The spot dollar is expected to open at 43. 58/60 to a dollar.

Sentiment: Volatile

• The spot rupee opened at 43.51/52 and led by dollar demand fell to a low of 43.59/60 at close.
• Premium on forwards fell sharply with the six-month and one-year dollars closing at 1.08 per cent 1.09 per cent against their previous close of 1.28 per cent and 1.20 per cent respectively.

Money market

Sentiment: Dull

• Prices of government securities remained pretty rangebound throughout the day.
• Gilt prices fell by 5-10 paise across the board.
• Call rates ruled comfortably at 5.05 per cent and reverse repo bids was around Rs 22,000 crore.
• The 10-year paper 7.38 per cent 2015 closed at 6.99 per cent.
• The market witnessed buying towards the end of the day when prices of most gilts were ruling at lower levels.