Re slips to 43.93/$

MARKETS REPORT

Forex market

Outlook
Rupee seen rangebound at 43.92/93 versus the dollar on Friday

Sentiment: Lacklustre

The rupee closed at 43.92/93 levels, after opening at 43.89/90 levels and touching an intra-day high of 43.93/94.

The six-month annualised premium ended the day at 0.84 per cent, while the annualised premium closed at 0.81 per cent.

Money market

Sentiment: Bearish

Call rates closed at 4.95-5.05 levels, with stray deals taking place at 5.15-5.20 levels.

The yield on the 10-year benchmark gilt closed at 7.02 per cent, with the price quoting at Rs 102.50.

Traders said ample liquidity in the banking system will support prices.

Gilts are expected to fall further with oil prices zooming above $68 a barrel.