Rises to as high as 61.65/dollar, its strongest since August 16
The rupee and bonds surged to more than one-month highs on Thursday morning as the US Fed refrained from withdrawing monetary stimulus as had been widely expected by global markets.
Emerging Asian currencies rallied with most Southeast Asian units up around 2% after the US Federal Reserve surprised investors by postponing the start of reductions to its stimulus programme.
At 9:30am, the rupee was trading at Rs 61.78 compared with previous close of Rs 63.39 per dollar. The unit rose to as high as 61.65/dollar, its strongest since August 16.
The benchmark 10-year bond yield was trading at 8.18%, after dropping to 8.14%, its lowest since August 8.
India's 1-year OIS rate was trading down 32 bps at 8.80% while the benchmark 5-year OIS down 28 bps at 8.02%, dealers said.
Currency dealers expect the rupee to trade near Rs 61 by the end of the trading session today.
The rupee and bonds surged to more than one-month highs on Thursday morning as the US Fed refrained from withdrawing monetary stimulus as had been widely expected by global markets.
Emerging Asian currencies rallied with most Southeast Asian units up around 2% after the US Federal Reserve surprised investors by postponing the start of reductions to its stimulus programme.
At 9:30am, the rupee was trading at Rs 61.78 compared with previous close of Rs 63.39 per dollar. The unit rose to as high as 61.65/dollar, its strongest since August 16.
The benchmark 10-year bond yield was trading at 8.18%, after dropping to 8.14%, its lowest since August 8.
India's 1-year OIS rate was trading down 32 bps at 8.80% while the benchmark 5-year OIS down 28 bps at 8.02%, dealers said.
Currency dealers expect the rupee to trade near Rs 61 by the end of the trading session today.
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