Re steady at 43.56/$, gilts rally

The spot rupee, which opened at 43.56 per dollar and moved in a range of 43.53-43.57 per dollar, closed on a steady note at 43.56 per dollar today.

Liquidity, slight moderation in oil prices and aggressive buying by Life Insurance Corporation (LIC) pushed up the government securities market today.

While prices of long and medium term papers went up 25-30 paise, prices of short term papers moved up 10-15 paise.

The 10-year, 7.38% 2,015 bond closed at an yield of 7.02%, and the most liquid 7.37% 2,014 bond closed at an yield of 6.96%.

Call rates were steady at 5.05%, and reverse repo bids totalled Rs 40,000 crore.