Re firm at 43.56/$, gilts steady

The spot rupee opened at 43.60 per dollar and moved up to 43.50 per dollar on sustained inflows. Buying by PSU banks at that level saw the rupee slide, and close at 43.56 per dollar as against the last weekend close of 43.57 per dollar.

Sentiment was bearish in the government securities market today. Illiquid securites got traded on valuation concerns,  and papers moved in a narrow band of 2-5 paise, dealers said.

The 10-year, 7.38% 2,015 bond closed at an yield of 6.56%. Reverse repo bids totalled Rs 34,000 crore.