Re steady at 43.55/$, gilts decline

The spot rupee, which dropped to a low of 43.58 per dollar in intra-day deals, closed on a steady note at 43.55 per dollar today.

Oil above $64 per barrel and rising US yields made the government securities market players jittery today. LIC was one of the major buyers today, dealers said.

While prices of long and medium term papers  fell by 25-30 paise, short-term papers declined 10 paise.

The 10-year, 7.38% 2,015 bond closed at an yield of 7.04%.

Call rates were soft at 5%, and reverse repo bids totalled Rs 38,000 crore.