Re steady at 43.56/$

MARKETS REPORT

Forex market

Sentiment: Dull

• The spot rupee opened and closed at 43.55/56 to a dollar after reaching a low of 43.5750 and high of 43.5350 to a dollar.
• Near-term dollars slipped into discount with one-month dollars available at -1.10 per cent.
• Six-month and one-year dollars are ruling at 0.76 per cent and 0.80 per cent respectively.

Money market

Sentiment: Bullish

• Liquidity, slight moderation in oil prices and aggressive buying by LIC pushed up the market.
• Prices of long and medium-tenure papers went up by 25-30 paise whereas prices of short-term papers moved up by 10-15 paise.
• The 10-year paper 7.38 per cent 2015 closed at 7.02 per cent, whereas the most liquid benchmark 7.37 per cent 2014 closed at 6.96 per cent.
• Call rates are ruling at 5.05 per cent amid reverse repo bids of Rs 40,000 crore.
• Dealers expect a cut-off yield of 7.08-10 per cent for 8.07 per cent 2017 security and 7.50-55 per cent for 7.50 per cent 2034 paper to be auctioned on Thursday.