Re closes higher at 43.57/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43.56/60 to a dollar.

Sentiment: Dull

• The spot rupee opened at 43.58/59 on Friday, but lack of RBI intervention pushed the currency up to close at 43.56/57 to a dollar.
• The premium on forward dollars remained range-bound with the six-month and one-year dollars closing at 1.41 per cent and 1.26 per cent, respectively.

Money market

Sentiment: Bearish

• The money market remained insipid on Friday on lack of triggers and range-bound trading.
• Long-end gilt prices moved up by 10-15 paise whereas short-and medium-term papers witnessed a three-five paise movement.
• The 10-year benchmark, 7.38 per cent 2015 paper closed at 6.55 per cent.
• Call rates ruled at 4.70/75 per cent and reverse repo bids were at Rs 33,610 cr.
• The inflation rate for the week ended February 25 was at 4.95 per cent as against 4.83 per cent last week.