Re slips to 43.80/$

MARKETS REPORT

Forex market

Outlook: The spot rupee is expected to open in a wide range of 43.73/78 to a dollar on Monday.

Sentiment: Bullish

• The spot rupee opened at 43.65/66 but dollar demand saw the rupee fall to 43.83 before closing at 43.78/80 to a dollar.
• While the rupee was active, forward premiums remained flat with six-month and one-year premiums closing at 1.60 per cent and 1.25 per cent.

Money market

Sentiment: Bearish

• Even as the inflation rate came down below 7 per cent, bond market players waited with curiosity for the auction cancellation.
• Gilt prices remained flat across maturities.
• Call money rates were at 5.85 per cent, while reverse repo subscription was only at Rs 2500 crore
• The benchmark 7.38 per cent 2015 gilt closed a6.53/54 per cent.