Re slips to close at 43.73/$

MARKETS REPORTS

Forex market

Outlook: The spot rupee is expected to open in the range of 43.72/75 to a dollar on Tuesday.

Sentiment: Bearish

• Ahead of the FOMC meet, the spot rupee slipped to close at 43.72/73 to a dollar on Monday after opening at 43.70/72 and reaching an intraday high of 43.66.
• Forward premiums inched up, following corporate and interbank buying of dollars.

Money market

Sentiment: Bearish

• The market sentiment was bearish following concerns over the inflation rate owing to the rising global oil prices.
• Gilt prices across maturities remained flat amid low volumes.
• The 10-year, benchmark 7.38 per cent 2015 paper closed at 6.70 per cent.
• Call rates ruled at 4.75 per cent, while reverse repo bids were at Rs 28,000 crore.
• Trading in corporate bonds remained quiet, while the primary market witnessed a Rs 4,000 crore issue of the Food Corporation of India.