Re firms up to 43.74/$, gilts subdued

The spot rupee, which opened at 43.78 per dollar, firmed up to close at 43.74 per dollar on steady inflows. The rupee dropped a marginal 0.01% in fiscal 2005 after appreciating 8.7% in the last fiscal.

Prices of govenrment securities remained range-bound due to slack trading on the last day of the financial year.

The 10-year, 7.38% 2,015 bond closed at an yield of 6.67%.

Call rates ruled easy at  4.70%. Reverse repo bids were lower at Rs  19,000 crore even as dealers said that there was surplus liquidity in the system.

The ten-year yield for valuation of the trading portfolio of banks will be released tomorrow.