Re slips to 43.58/$, gilts rally

The spot rupee opend at 43.57 per dollar, and touched a low of 43.61 per dollar before closing lower at 43.58 per dollar today.

Sentiment was bullish in the government securities market today.

Buying was seen in anticipation of active participation by PSU banks in the auction to be held tomorrow. Prices of long and medium term securities moved up by 15-30 paise.

While the yield on the 10-year, 7.38% 2,015 bond closed at 7.30%, the 5-year, 8.07% 2,017 paper closed at an yield of 7.55%.

Call rates ruled at 4.90%, and reverse repo bids totalled Rs 32,000 crore.