Re steady at 43.72/$, gilts decline

Sentiment was bullish in the forex market today.

The spot rupee opened at 43.72  per dollar, and moved up to 43.67 per dollar in early deals. Buying by PSU banks saw the rupee finally close at 43.72 per dollar as against the last weekend close of 43.72 per dollar.

The government securities market opened on a bullish note, but profit-booking  saw most papers shed gains. The 10-year, 7.38% 2,015 bond closed at an yield of 6.53%.

Reverse repo bids dropped to around Rs 20,000 crore as  banks get ready for advance tax outflows.