Re climbs to 43.45/$

MARKETS REPORT

Forex market

Outlook: The spot rupee is expected to open in the range of 43.43/46 to a dollar.

Sentiment: Bearish

• The spot rupee opened at 43.49/50 and lost to 43.5275 before closing the day at 43.4550 to a dollar.
• Premium on the forward dollar closed flat with six month and on eyear dollars at 1.46 per cent and 1.36 per cent, respectively.

Money market

Sentiment: Bullish

• The prices of government securities shot up following low inflation figure and delayd announcement of the government auction.
• Prices in the long and medium term papers went up by 50-60 paise whereas the short term papers remained flat.
• The ten year benchmark 7.38 percent 2015 closed at 6.98 per cent whereas the 12-year 8.07 per cent 2017 paper closed at 7.15 per cent.
• Call rates hovered at 5.10 per cent whereas reverse repo bids was at Rs 14,000 crore.