Business Standard

Re slips to 43.80/$

MARKETS REPORT

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Our Banking Bureau Mumbai
Forex market
 
Outlook: The spot rupee is expected to open in a wide range of 43.73/78 to a dollar on Monday.
 
Sentiment: Bullish
 
  • The spot rupee opened at 43.65/66 but dollar demand saw the rupee fall to 43.83 before closing at 43.78/80 to a dollar.
  • While the rupee was active, forward premiums remained flat with six-month and one-year premiums closing at 1.60 per cent and 1.25 per cent.
 
Money market
 
Sentiment: Bearish
 
  • Even as the inflation rate came down below 7 per cent, bond market players waited with curiosity for the auction cancellation.
  • Gilt prices remained flat across maturities.
  • Call money rates were at 5.85 per cent, while reverse repo subscription was only at Rs 2500 crore
  • The benchmark 7.38 per cent 2015 gilt closed a6.53/54 per cent.
 
 

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First Published: Dec 25 2004 | 12:00 AM IST

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