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The rupee breached the 63 per dollar mark in morning trade, tracking the Non-Deliverable Forwards (NDF) market coupled with dollar demand from Oil Marketing Companies (OMCs).
At 10:15 am, the rupee was trading at 63.18 compared with previous close of 62.48 per dollar. In early trade, the rupee even touched 63.25 per dollar.
Tracking the weak rupee, government bond yields rose. The yield on the 10-year benchmark government bond was trading at 9.12% compared with previous close of 8.99% on Friday.
The one-month NDF contract was trading at 63.20.
Currency dealers expect the Reserve Bank of India (RBI) to intervene later during the day to arrest the volatility in the rupee.
