Re slips to 43.75/$, gilts decline

The spot rupee, which opened at 43.73 per dollar, closed lower at 43. 75 per dollar on demand from oil companies.

The rupee is expected to open in the range of  43.70-74 per dollar on Friday as the market is closed tomorrow.

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

Prices moved up  by 5-10 paise in early trading owing to moderation  in oil prices, but fell during the day due to selling pressure.

The 10-year, 7.38% 2,015 bond closed flat at an yield of 7%.

The cut-off yield for the 91-Day T-bill came down to 5.14% - lower than the earlier cut-off of 5.52%.

Call rates were steady at 4.70-4.75%, and reverse repo bids totalled Rs 32,935 crore.