Rupee surges to 45.43/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is likely to open in the range of 45.35 to a dollar on Friday

Sentiment: Bullish

The spot rupee rose to 45.42/43 per dollar as against the opening level of 45.64/66 and the previous close of 46.73/74 on account of the yen's rally versus the dollar

Premiums on the six-month and 12-month forwards closed at 0.84 per cent and 0.68 per cent, respectively

Money market

Sentiment: Bullish

Gilt prices rose a tad on account of a rise in US treasury yields

Yield on nine-year government paper was almost flat at 6.99 per cent

Call rates edged up to 6 per cent on account of tight cash

RBI absorbed Rs 545 crore through its morning reverse repo auction at 5.25 per cent

It mopped up Rs 5,205 crore at 5.25 per cent under second liquidity adjustment