The Hindu Business Line : Rupee closes weaker at 43.69; gilts flat

MUMBAI: The rupee ended weaker on Tuesday as the dollar gained from "slightly" bullish sentiment on the back of the G-7 pronouncements as well as the drop in the stock market. The domestic currency closed the day at 43.69/70 levels as against 43.49 levels on Monday.

According to a dealer with a public sector bank here, the stock market losses on Monday weighed on the Indian unit, which moved in a 10-15 paise band on Tuesday. The high for the day was hit at 43.51-43.52 levels.

In the debt market, Government securities closed flat to lower on their previous levels. According to a dealer with a private bank, gilts rose 20 paise in the morning, but profit-booking saw them end flat.

The benchmark 7.38 per cent 10-year paper ended up by about 10 paise and quoted at 6.54 per cent as against the previous close of 6.55 per cent.

The call market was generally flat though some deals were conducted at 4.85 per cent levels in anticipation of auction outflows. Most of the deals were done in the 4.7-4.8 per cent band, the dealer said.

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