Re slips to 43.82/$, gilts decline

Sentiment was volatile in the forex market today.

The spot rupee opened at 43.80 per dollar, and gained all the way up to 43.75 per dollar backed by inflows.

Sustained buying by PSU banks saw the rupee shed gains, and close on a weak note at 43.82 per dollar.

Announcement of the auction of state loans led to profit-booking in the government securities market today.

While prices of long-term papers fell by 18-20 paise, short and medium-term papers witnessed price declines of 10-15 paise.

The 10-year, 7.38% 2,015 bond closed at a higher yield of 6.52%.