 "Rupee marginally weak in afternoon trades on month-end dollar demand")
Month-end dollar demand from importers is keeping the rupee under pressure. The rupee was trading marginally weaker in afternoon trades.
At 2:10PM the rupee was trading at Rs 66.68 compared with previous close of Rs 66.60. The rupee had opened at Rs 67.00 per dollar and it has so far weakened to Rs 67.43.
Yesterday the rupee recorded its biggest ever recovery since October 22, 1987 as the Reserve Bank of India (RBI) opened the foreign exchange swap window to meet the daily dollar requirements of three public sector oil marketing companies (OMCs).
Meanwhile, government bond yields rose tracking the weak rupee and due to supply of government bond due to today's auction for a notified amount of R s 17,000 crore.. The yield on the 10-year benchmark government bond was trading at 8.84% compared with previous close of 8.77%.
At 2:10PM the rupee was trading at Rs 66.68 compared with previous close of Rs 66.60. The rupee had opened at Rs 67.00 per dollar and it has so far weakened to Rs 67.43.
Yesterday the rupee recorded its biggest ever recovery since October 22, 1987 as the Reserve Bank of India (RBI) opened the foreign exchange swap window to meet the daily dollar requirements of three public sector oil marketing companies (OMCs).
Also Read
Besides that RBI also sold dollars heavily through state-run banks in the last few hours of trading.
Meanwhile, government bond yields rose tracking the weak rupee and due to supply of government bond due to today's auction for a notified amount of R s 17,000 crore.. The yield on the 10-year benchmark government bond was trading at 8.84% compared with previous close of 8.77%.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*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
SAVE 25%