Re slips to 43.65/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43. 64/68 to a dollar on Thursday.

Sentiment: Bearish

The spot rupee opened at 43.66/67 and closed around 43.65/66 after reaching highs of 43.6250/6350 to a dollar on the back of FII inflows.

Forwards went up as banks bought long-term dollars with six-month and one-year forwards closing at 1.42 per cent and 1.28 per cent.

Money market

Sentiment: Bearish

With oil prices moving up and liquidity tightening, sentiment in the market remained bearish

Gilt prices fell by 20-25 paise in the long term, whereas short and medium tenure prices fall 10-15 paise.

The benchmark 10-year 7.38 per cent 2015 closed at 6.93 per cent against a close of 6.88 per cent on Tuesday.

Call rates touched 5.20/25 per cent, while reverse repo bids fell to Rs 8,000 crore.

Oil bonds saw trades of Rs 100 crore.