Rupee, bonds down after US Fed hints at rate hike in Dec

Fed decision stokes fears of foreign fund outflows from domestic markets

Image via Shutterstock
<a href="http://www.shutterstock.com/pic-107101340/stock-photo--indian-rupees-high-resolution-seamless-texture-indian-money-seamless-texture.html" target="_blank">Image</a> via Shutterstock
Reuters Mumbai
Last Updated : Oct 29 2015 | 9:53 AM IST

Rupee and bonds weakened on Thursday after the US Federal Reserve signalled it may increase its policy rates at the next meeting in December, stoking fears of foreign fund outflows from domestic markets.

The US Federal Reserve kept interest rates unchanged on Wednesday, but downplayed global economic headwinds, leaving the door open for a rate hike in December.

At 9:07 am, the rupee was at 65.1800/65.1875, compared with its previous close of 64.9175/64.9275.

The 10-year benchmark bond yield rose 2 basis points to 7.61%.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 29 2015 | 9:29 AM IST

Next Story