Re firms up to 43.48/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43.44/48 to a dollar on Tuesday.

Sentiment: Bullish

• The spot rupee opened at 43.58/59 and gained all the way up to 43.46/48 to close tracking the euro appreciation against dollar.
• Forwards remained rangebound with six-month and one-year dollars closing at 1.68 per cent and 1.32 per cent respectively.

Money market

Sentiment: Bearish

• Excess liquidity in the system resulted in a rally in government securities prices.
• Prices across the board went up by Re 1/ Rs 1.50 paise.
• Call money rates were extremely soft at 3.50/4 per cent and reverse repo bids figured at Rs 32,745 crore.
• The 10-year benchmark 7.38 per cent 2015 gilt closed at 6.53 per cent against a close of 6.72 per cent on Saturday.