Re slips to 43.78/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is likely to open in the range of 43.75/79 to a dollar on Thursday.

Sentiment: Volatile

The spot rupee opened at 43.75 triggered by euro depreciation and closed at 43.78/79 to a dollar after reaching a low of 43.8250 to a dollar.

Cash dollar shortage continued with six-month and one-year dollars closing at 1 per cent and 1.05 per cent.

Money market

Sentiment: Bullish

A reported surplus of around Rs 5,000 crore maintained by government with the RBI, a delayed auction announcement and a slip in US yields led to strong buying in gilts.

Prices of government securities in the medium and short segment moved up by 50 paise.

The 10-year paper 7.38 per cent 2018 closed at 6.92 per cent.

Call money rates moved around 5.05 per cent and reverse repo bids was at Rs 27,000 crore.