Re closes flat at 43.77/$

MARKETS REPORT

Forex Market

Outlook: The spot rupee is expected to open in the range of 43.77/80 to a dollar.

Sentiment: Bearish

• The spot rupee opened at 43.74/75 and closed at 43.75/76 to a dollar.
• Forward dollars remained flat with the six-month and one-year premiums closed at 1.72 per cent and 1.46 per cent.

Money market

Sentiment: Bullish

• The market opened bullish with prices in the long term and short term papers going up by 50-60 paise but the rally was short lived with the announcement of the inflation data.
• Prices of long and medium term securities moved in the 20-25 paise range.
• The 10-year benchmark 7.38 per cent 2015 closed at 7.07 per cent.
• Reverse repo bids were at Rs 31,745 crore while call rates ruled at 4.75/80 per cent.
• Inflation rate for the week ended April 2 figured at 5.12 per cent against 5.01 per cent the week before.