Re appreciate to 43.81/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43.78/83 to a dollar.

Sentiment: Bullish

• The spot rupee opened at 43.84/86 to a dollar and tracked dollar weakness globally to appreciate and close at 43.80/8150 to a dollar.
• The six-month and one-year forwards dollars closed at 2 per cent and 1.55 per cent, respectively.

Money market

Sentiment: Bearish

• Gilt prices across maturities perked up as oil prices fell and on hopes of a moderate inflation rate in the coming weeks.
• Prices of long-tenure gilts went up by 45-50 paise, while short and medium-tenure papers rose by 20-35 paise.
• The benchmark 10-year 7.38 per cent 2015 gilt closed at 6.55 per cent against 6.58 per cent on Tuesday.
• Call rates ruled at 4.75/4.8 per cent, while reverse repo bids were at above Rs 7,000 crore.