Re drops to 43.59/$, gilts move up

The spot rupee opened at  43.56 per dollar, and closed lower at 43.59 per dollar.

Prices of government securities moved up with RBI returning funds to the market after the 91-day T-bill auction.

Prices of long and medium term paprs went up by 30 paise whereas short term papers moved up by 10-15 paise.

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

Call rates were comfortable with reverse repo bids at Rs 9,470 crore.