The rupee opened lower amid a strengthening dollar and weak opening in domestic markets.
The Indian rupee snapped its three day rally on Thursday and opened lower by 24 paise at 70.63/$ amid the strengthening American currency and a weak opening in domestic markets. Further, fresh foreign fund inflows and easing crude prices capped the losses for the domestic unit.
The government 10-year bond yield was at 7.245% from its Wednesday’s close of 7.22%
The domestic unit ended 5 paise higher at 70.39/$ on increased selling of the greenback by exporters amid benign crude oil prices and smart gains in domestic equities.
RBI's reference rate for the dollar stood at Rs70.10, while for the euro, it was at Rs81.53. Further, its reference rate for the yen stood at Rs62.38, while that for the British pound sterling, it was at Rs88.74.
On the international front, the US Federal Reserve on Wednesday raised its benchmark interest rate as was widely anticipated but signaled fewer rate hikes in 2019 than its forecast. The rate increase, the fourth of the year, was expected, but Powell's comments on the balance sheet in a news conference, though a repetition of the longstanding Fed policy, prompted a sell-off in equity markets.
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The government 10-year bond yield was at 7.245% from its Wednesday’s close of 7.22%
The domestic unit ended 5 paise higher at 70.39/$ on increased selling of the greenback by exporters amid benign crude oil prices and smart gains in domestic equities.
RBI's reference rate for the dollar stood at Rs70.10, while for the euro, it was at Rs81.53. Further, its reference rate for the yen stood at Rs62.38, while that for the British pound sterling, it was at Rs88.74.
On the international front, the US Federal Reserve on Wednesday raised its benchmark interest rate as was widely anticipated but signaled fewer rate hikes in 2019 than its forecast. The rate increase, the fourth of the year, was expected, but Powell's comments on the balance sheet in a news conference, though a repetition of the longstanding Fed policy, prompted a sell-off in equity markets.
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