Re moves up to 43.48/$, gilts decline

The spot rupee opened at 43.53 per dollar, and firmed up to 43.48 per dollar on sales by exporters.

The government securities market turned bearish in anticipation  of the sale of state development loans.

The 8.07% 2,017 bond declined 5 paise in intra-day deals before closing at the previous level.

The 10-year, 7.38% 2,015 bond closed at an yield of 7.24%, and the 8.07% 2,017 paper closed at an yield of 7.47%.

Call rates were steady at 4.95%, and reverse repo bids declined to Rs 20,000 crore.