Re drops to 43.55/%, gilts decline

The spot rupee opened at  43.48 per dollar, but buying by PSU banks saw it decline to 43.55 per dollar at close today. The spot rupee had closed at 43.50 per dollar last week after heavy central bank intervention.

Factoring in a 25 basis point reverse repo rate hike, the government securities market witnessed a fall in prices today.

While prices at the short end of the maturity remained flat, long and medium term papers declined 25-30 paise.

The 10-year, 7.38% 2,015 bond closed at an yield of  7.16%.

Call rates were comfortable at 5.05-5.10%, and reverse repo bids totalled Rs 11,400 crore.