The partially convertible rupee opens at 56.90 per dollar, . The rupee had closed at 57.02 on thursday 0.19% lower than the previous close, lowest in almost a year.
The 10-year benchmark government bond yield closed at 7.22%, up 1 bps from the previous close. The local currency has depreciated as much as 4.91% in the past month.
Finance minister P Chidambaram doesn’t appear to be too worried. “There is no alarm bell on the rupee front. I think the rupee will soon find its stable level. Inflows are good in the past two months, it was extremely good,” the FM said.
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