The spot rupee firmed up to 43.68 per dollar as against the last weekend close of 43.73 per dollar on sustained inflows and lack of buying by PSU banks.A higher government borrowing programme to contain the fiscal deficit as announced in the budget drove bond prices sharply lower across the spectrum on a fresh round of heavy selling today.Select gilts fell by 40-70 paise after the centre's market borrowing was set to go up 42% to contain the widening fiscal deficit in 2005-06, a dealer said.The union budget proposed a hike in borrowing to Rs 1,00,836 crore to keep the fiscal deficit marginally lower at 4.3% of GDP in the next financial year.The benchmark 7.38% 2,015 bond tumbled by over 62 paise to Rs 106.25/35 with the yield rising by eight basis points to 6.54%.
