Rupee slips to 45.85/$

MARKETS REPORTS

Forex market

Outlook
The spot rupee is expected to open in the range of 45. 84/88 to a dollar.

Sentiment: Moderate

The spot rupee dipped to 45.89 but recovered to close at 45.85.

The premium on forward dollars remained ranged with annualised premiums on six-month and one-year closing at 2.62 per cent and 2.17 per cent respectively.

Money market

Sentiment: Bearish

Bond prices fell after opening with a bullish note.

There were no trades in the long-tenor papers. The medium-tenor gilts witnessed a price fall of 50-60 paise, while short-term papers slipped by 20-25 paise.

Call rates remained at 4.60 per cent and outstanding liquidity is at around Rs 10,000 crore.

The 11-year benchmark 7.38 per cent 2015 closed at 6.93 per cent.