Re firm at 43.82/$, gilts decline

Sentiment was dull in the forex market today. With the US markets closed, the spot market witnessed a range-bound trend.

The spot rupee opened at 43.83 per dollar and moved up to 43.77 per dollar before dropping to 43.82 per dollar at close on buying by PSU banks. The rupee had closed at 43.85 per dollar last Friday.

Government securities prices declined on worries over the on-tap sale of state government loans. Prices across maturities fell by 10-15 paise.

The 10-year, 7.38% 2,015 bond closed at an yield of 6.51%.