Re slumps to 46.40/$ at close

MARKETS REPORT

FOREX MARKET

Outlook
The spot rupee is expected to open in the range of 46.35/42 to a dollar.

Sentiment: Bearish

The spot rupee opened at 46.25/28 and soared to a high of 46.21 before losing its way to close at 46.40 on the back of dollar demand from oil firms.

Forward premiums remained rangebound with six-month and one-year closing at 2.64 per cent and 2.40 per cent, respectively.

MONEY MARKET

Sentiment: Bearish

The prices of government securities remained subdued owing to selling pressure from market players for profit taking.

The 10-year benchmark 7.37 per cent 2014 paper closed at 6.57 per cent.

Prices in the long and medium-end moved in the range of 10 paise.

Call rates remained comfortable at 4.25-30 per cent.

One-day repo subscriptions figured at Rs 17,000 crore.