Re drops to 43.55/$, gilts decline

The spot rupee opened at 43.57 per dollar, and closed at 43.55 per dollar as against the last weekend close of 43.48 per dollar.

Prices fell across-the-board in the government securities market today ahead of the forthcoming auction.

While prices of long-term papes fell by 75 paise, medium-term papers declined by 30-40 paise.

The 10-year, 7.38% 2,015 bond closed at an yield of 7.08%.

Call rates ruled at 5.35-5.40%, and reverse repo bids totalled Rs 10,785 crore.