The Indian rupee traded in a tight band in July closing the month with mild losses against the dollar while the benchmark 10-year bond yield rose for a second straight month with high global crude weighing on sentiment. The partially convertible rupee ended at 74.41 per dollar compared with its close of 74.2850 on Thursday. The unit lost 0.1% on the month, posting its second straight monthly fall after having dropped 2.4% in June. The rupee traded in a range of 74.22 to 74.95 during the month with traders cautiously watching the outcome of the U.S. Federal Reserve's statements ...
India rupee, bonds fall for second straight month; RBI policy in focus
Sentiment has been lifted after the Fed did not outline a taper timeline, which is expected to aid local shares and the rupee in the near future.