Re drops to 43.57/$, gilts move up

The spot rupee opened at 43.56 per dollar, and moved up to 43.54 per dollar before closing lower at 43.57 per dollar today. The spot rupee had closed at 43.54 per dollar yesterday.

The government securities market moved up today with the easing of crude price from $66 per barrel to $63 per barrel .

Prices of long and medium term papers went up by 20-25 paise.

The 10-year, 7.38% 2,015 bond closed at an yield of 7.06%.

Call rates closed at 5.05%, and reverse repo bids totalled Rs 36,000 crore.

Two papers - the 7.37% 2,014 and the 7.50% 2,034 - were auctioned at cut-off yields of 7.04% and 7.55%, respectively.