Re slips to 43.7750/$, gilts decline

Tracking an appreciating dollar globally, the spot rupee opened at 43.78 per dollar and dropped to 43.7950 per dollar in intra-day deals. It finally closed at 43.7750 per dollar as against the last weekend close of 43.74 per dollar.

Sentiment was bearish in the government securities market today. Prices of long and medium-term papers fell by 15-40 paise.

The yield on the 10-year, 7.38% 2,015 closed higher at 6.75%.

While call rates were steady at 4.70%, reverse repo bids stood at Rs 31,865 crore.