Re moves up to 43.71/$, gilts decline

The spot rupee, which opened at 43.75 per dollar, closed on a firm note at 43.71 per dollar on dollar sales by exporters.

Sentiment continued to be bearish in the government securities market today.

The 10-year, 7.38% 2,015 bond closed at a higher yield of 7.02%.

The newly auctioned paper  - 6.85% 2,012 bond - is trading 10 basis points higher at 6.90% as against the cut-off yield of 6.80%.

Reverse repo bids totalled Rs 31,000 crore today.