Re down a tad at 43.56/$, gilts decline

The rupee opened at 43.57 per dollar, and dipped to a low of 43.60 before closing a tad lower at 43.56 as against the last close of 43.55 per dollar.

The mood was bearish in the money market apprehending higher cut-off yield in the auction.

Prices of government securities moved in the range of 5-10 paise, which, after the auction, fell by almost 15-20 paise.

The 10-year, 7.37% 2,015 bond closed at an yield of 7.12%.

Call rates declined to 4.95%, and reverse repo bids totalled Rs 17,930 crore.