Re dips to 43.83/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43.80/83 to a dollar on Monday.

Sentiment: Bearish

• The spot rupee opened at 43.70/71 on Friday and dipped to close at 43.82/83 amid dollar buying by public sector banks at the behest of the RBI.
• Forward premiums came off with banks rushing to buy the greenback to be sold at a later date, apprehending dollar shortage due to repeated intervention by the RBI.
• The six-month and one-year premiums closed at 1.52 per cent and 1.36 per cent, respectively.

Money market

Sentiment: Bullish

• Prices of government securities rallied on Friday amid profit booking by a few banks.
• Long-term gilt prices went up by 20-35 paise, while medium- and short-term papers saw a 5-10 paise rise.
• The yield on the benchmark 7.38 per cent 2015 paper closed at 6.46 per cent.
• Call rates ruled bit higher in the 4.79-4.80 per cent range.
• Reverse repo bids were at Rs 8,670 crore owing to outflows towards indirect tax collection.