Re slips to 43.73/$, gilts decline

Sentiment was bearish in the forex market today. The rupee, after touching an intra-day high of 43.66 per dollar, declined to close at 43.73 per dollar.

With oil prices firmly above $57 per barrel, government securities market displayed a weak trend today. Prices of gilts across maturities  were flat-to-down amidst low volumes.

The 10-year, 7.38% 2,015 bond price dropped and yield moved up to 6.70% as against the last weekend closing level of 6.66%.

While call rates were steady at 4.75%, reverse repo bids totalled Rs 28,000 crore.