Re drops to 43.53/$, gilts decline

The rupee opened at 43.54 per dollar and closed weaker at 43.53 per dollar as against the last close of 43.51 per dollar.

The government securities market was lacklustre today due to apprehensions of a rate hike.

The 10-year, 7.38% 2,015 bond closed at an yield of 7.20%.

Call rates moved up to 6%, and reverse repo bids totalled Rs 7985 crore.