Re drops to 43.53/$, gilts steady

The spot rupee opened at 43.44 per dollar, but closed lower at 43.53 per dollar on buying by PSU banks. The rupee had closed at 43.45 per dollar yesterday.

The government securities market was lacklustre today due to lack of positive triggers even after Bank of England opted for a repo rate cut today.

The 10-year, 7.38% 2,015 bond closed at an yield of 6.97%.

Call rates declined to 5.05%, and reverse repo bids totalled Rs 45,000 crore.