Re ends lower at 43.80/$

MARKETS REPORTS

Outlook: The spot rupee is expected to open in the range of 43.78/81 to a dollar on Thursday.

Sentiment: Bullish

• The spot rupee, which opened at 43.73/74 to a dollar on Wednesday, slipped to close at 43.79/80 on global appreciation of the dollar and importer demand.
• Forward dollar premiums remained range-bound with the six-month and one-year dollars closing at 1.48 per cent and 1.34 per cent, respectively.

Money market

Sentiment: Bearish

• Tracking rising US yields and inflation concerns, the bond market remained weak on Wednesday.
• While prices of long-term gilts remained range-bound, short-and- medium-term papers witnessed a fall in the range of 10-15 paise.
• The 10-year benchmark, 7.38 per cent 2015 paper closed at 6.72 per cent.
• Call money rates inched up a bit and ruled at 4.80/90 per cent. Reverse repo subscriptions were at Rs 18,000 crore.