Re dips to 43.75/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43.70/74 to a dollar on Friday.

Sentiment: Dull

The spot rupee opened at 43.72/73 and closed lower at 43. 7450/7550 following demand from oil companies.

Premium on forwards closed with six-month at 1.78 per cent and one-year at 1.45 per cent.

Money market

Sentiment: Bearish

Prices moved up in early trading sessions owing to moderation in oil prices by 5-10 paise but fell during the day on selling pressure.

The yield on 10-year benchmark 7.38 per cent 2015 closed flat at 7 per cent.

The cut-off yield on the 91-day T-bill came down to 5.14 per cent , lower than earlier cut-off of 5.52 per cent.

Call rates ruled at 4.70/75 per cent and reverse repo bids were at Rs 32,935 crore.