Rupee fells to 46.28/$

MARKETS REPORT

Sentiment: Bearish

The rupee fell by 18 paise to close at 46.28 per dollar after yesterday's 21 paise loss

The six-month forward premium rose to 0.76 per cent from 0.68 per cent on Monday

Money market

Sentiment: Bearish

Traders avoided taking fresh positions ahead of the Rs 10,000 crore gilt auction slated for June 8

The benchmark 7.59 per cent 2016 gilt closed at 7.65 per cent against 7.64 on Monday

The overnight call money rate was in a lower range of 5.30-5.60 per cent against 5.50-5.60 per cent on easy liquidity

The market is also awaiting the fuel price hike, particularly the extent of the hike

The market was also concerned that RBI's intervention to restrict the fall in the rupee may strain liquidity