Re moves up to 43.57/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43.55/58 to a dollar on Tuesday.

Sentiment: Dull

• The spot rupee opened at 43. 57/58 and closed at 43. 56/57 to a dollar amid lacklustre trading.
• Forward premiums inched up with interbank buying. Six-month and one-year dollars closed at 1.54 per cent and 1.36 per cent respectively.

Money market

Sentiment: Bearish

• Gilt prices fell across the board following heavy selling by market participants .
• Long and medium-tenure gilt prices fell by 30-50 paise, whereas short-tenure prices fell by 25 paise.
• The benchmark 7.38 per cent 2015 gilt closed at 7.25 per cent after reaching an intra-day high of 7.28 per cent.
• Call money rates ruled higher at 5.20/5.40 per cent with reverse repo bids just at Rs 3,800 crore.
• Market is reeling under the bearish sentiment anticipating reverse repo rate hike in the forthcoming July policy.