Re moves up to 43.56/$, gilts rally

Sentiment was weak in the forex market today. After dipping to an early low of 43.63 per dollar, the spot rupee moved up to close at 43.56 per dollar on easing crude prices.

Banks had to cut long positions built on the basis of euro's weakness, dealers said.

Sentiment was bullish in the government securities market today. Bond prices closed up as dealers expect the auction of Rs 5,000 crore, 7.49% 2,017 bond on Thursday to be smooth.

Yield on the benchmark 7.38% 2,015 bond was down 4 basis points at 6.87%.

Call rate was flat at 4.90% on easy liquidity conditions.