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Re ends at 43.74/$

MARKETS REPORT

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Our Banking Bureau Mumbai
Last Updated : Mar 18 2013 | 2:20 PM IST
 
 
Forex market
 
Outlook: The spot rupee is expected to open in the range of 43.75/77 to a dollar on Tuesday.
 
Sentiment: Bearish
  • The spot rupee opened stronger at 43.60/61 to a dollar and closed at 43.73/74 as the dollar strengthened against the yen.
  • The six-month forward premium closed at 0.47 per cent, while the 12-month premium closed at 0.41 per cent.
 
Money market
 
Sentiment: Bearish
  • Prices of government securities rose by 5-10 paise backed by a fall in crude oil prices coupled with softening of yields on US treasury notes.
  • The 7.37 per cent 2014 government stock closed at 6.97 per cent. The 10-year bond was illiquid today.
  • The market expects the cash crunch to ease following the cancellation of Wednesday's auction of treasury bills under the market stabilisation scheme.
  • Call rates fell to 6.30/6.40 per cent in a cash-tight market, with reverse repo bids aggregating to Rs 835 crore.
  • RBI infused Rs 1900 crore into the call money market at 6.25 per cent through the repo window.
 
 
 

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