Rupee falls ahead of RBI's OMO debt sale
Investors are looking ahead at a planned open market operation sale of Rs 12000 crore from the RBI later in the day
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<a href="http://www.shutterstock.com/pic-49498450/stock-photo-background-created-with-indian-rupee-notes.html" target="_blank">Gold</a> image via Shutterstock
The rupee weakened on Thursday after the dollar gained modestly after Federal Reserve Chairman Ben Bernanke said the central bank would be flexible about its US monetary stimulus.
Investors are looking ahead at a planned open market operation sale of Rs 12000 crore from the Reserve Bank of India later in the day, in what is a key plank in its move to drain liquidity from the financial system to support the rupee.
The rupee was at 59.63/64 after closing at 59.34/35 on Wednesday.
The most traded 8.33% 2026 bond was 2 basis points higher at 8.20%.
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First Published: Jul 18 2013 | 9:19 AM IST