Re steady at 43.78/$, gilts move up

The spot rupee moved in a narrow band of 4-5 paise today. After opening at 43.76 per dollar, it closed at 43.78 per dollar.

Sentiment was bullish in the government securities today as prices went up in the medium segment by 30-35 paise.

The auction of the 8.07% 2,017 bond was well bid, and this perked up sentiment.  The 6.85% 2,012 gilt was the top traded paper in the market today.

The 10-year, 7.38% 2,015 bond, which has turned illiquid, closed at an yield of 7.08%.

Call rates ruled at 4.75%, and reverse repo bids totalled over Rs 31,000 crore.