Re down a notch at 43.43/$, gilts decline

Forex market players cut positions in other currencies and bought dollars today as the Chinese revaluation rumour slowly died down.

The spot rupee opended at 43.42/43 per dollar, and slipped to a low of 43.47/48 before closing at 43.4250/4350 per dollar.

Prices of short and medium-term government securities fell by 20 paise in response to higher inflation at 5.91%.

The yield on the 10-year paper was around 7.25%, and the 12- year 8.07% 2,017 bond closed at an yield of 7.47%.

Call rates were comfortable at 4.90%, and reverse repo bids totalled Rs 27,000 crore.