Tuesday 27 August 2013

Rupee breaches 66/dollar

Benchmark 10-year bond yield was trading up 13 basis points on the day at 8.47%.

The rupee breached the 66 per dollar mark on Tuesday to hit a record low, as a steep decline in the domestic share market following the approval of the food security bill in the lower house of Parliament hurt sentiment.

It had recouped some losses after the RBI sold dollars via state-run banks, starting at Rs 65.90 levels. But, the intervention could not prevent it from breaching the 66 level.

The currency hit a new low of 66.0750/dollar.

The benchmark 10-year bond yield was trading up 13 basis points on the day at 8.47%.

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