Re slumps to 46.19/$

MARKETS REPORT

Forex market

Outlook: The spot rupee is likely to open in the range of 46.10 to a dollar on Monday.

Sentiment: Bearish

• The spot rupee closed lower at 46.18/19 to a dollar after having opened at 46.10/12. The rupee weakened on account of strong dollar in the overseas market coupled with importers covering positions.
• The six-month forward premium closed at 0.80 per cent, while the 12-month premium closed at 0.64 per cent.

Money market

Sentiment: Bearish

• Prices of short-tenure gilts moved in a narrow range of 3-5 paise ahead of a the auction announcement.
• The yield on 9-year gilt was unchanged at 6.98 per cent.
• RBI would auction 8.07 percent 2017 gilt for Rs 5,000 crore and 7.40 percent 2035 bond for Rs 3,000 crore on December 6
• Call rates closed straddled around reverse repo rate at 5.35/5.40 per cent amid adequate liquidity.
• RBI accepted 14 bids aggregating Rs 9,665 crore under liquidity adjustment facility.
• It accepted another 19 bids aggregating Rs 7,210 crore at 5.25 per cent under the second liquidity adjustment (SLAF).