Re slips to 43.80/$, gilts decline

The spot rupee opened at 43. 74 per dollar. The dollar rally in overseas markets and importer-demand saw the rupee slip to close at 43.80 per dollar.

Sentiment was bearish in the government securities market today.

While prices of long-term papers remained  rangebound,  short and medium-term paper witnessed  a fall of 10-15 paise.

The 10-year, 7.38% 2,015 bond closed at an yield of 6.72%.

Call rates inched up a bit, and closed at 4.80-4.90%. Reverse repo subscriptions  stood at Rs 18,000 crore.