Re slides to 45.43/$ at close

MARKETS REPORT

Forex market

OUTLOOK
The rupee is expected to open between 45.41 and 45.44 against the greenback on Tuesday.

Sentiment: Bullish

The rupee opened at 45.33/34 per dollar and ended lower at 45.42/43 on corporate demand for greenbacks. It hit an intraday high of 45.31.

Premiums on forward dollars slipped. Annualised premiums on six-month and one-year dollars closed at 2.53 per cent and 2.13 per cent respectively.

Money market

Sentiment: Bearish

Government security prices slid on apprehensions over on-tap sale of Rs 6,200 crore state loan auction and receding liquidity in the banking system.

Prices of long-term prices fell by 60-70 paise, while those of short- and medium-term gilts fell by 20-30 paise.

The yield on the benchmark 7.38 per cent 2015 paper closed higher at 6.93 per cent.

Call money rates ruled higher at 4.75/8 per cent on good demand.

Reverse repo subscriptions stood at Rs 3,000 crore.