Re drops to 43.65/$, gilts decline

The rupee opened at 43.61 and fell to a low of 43.67 per dollar before closing lower at 43.65 per dollar.

Fall in oil prices and US treasury yields led to recovery in gilts prices, which had declined sharply during the day. Prices of long and medium term gilts fell by 15-30 paise.

The 10-year 7.38% 2,015 paper closed at an yield of 7.14%.

Call rates ended at 5.10% with reverse repo bids totalling Rs 13,750 crore.