Bearish sentiments in equity markets affect rupee
The benchmark 10-year yield rose 9 basis points to 8.64%
Reforms are aimed at making policy-setting more effective and transparent
Central bank may raise the limit on repo borrowings or purchase more of govt bonds
Monetary policy committee to be made accountable for achieving inflation target
Currency dealers see the rupee in the range of Rs 61.30 to Rs 61.70 today
RBI may disclose completion only in Jan 28 policy review
Foreign institutional investors have been heavy investors in local debt
Strong fund inflows into debt, however, support rupee
A market-plus policy is a unit linked insurance policy which is liable to the vagaries of the share market and subject to the risks of fluctuation and variation
The rupee may trade in the range of 61.25-61.70 this week
The outlook for the bond market and money market is looking much better for this week
Foreign currency assets, a key component of reserves rose by $190 mn to $267 bn
RBI raised interest rates twice late last year to contain inflation, sparking concerns about declining economic growth
Dealers say improving economic sentiments helping rupee
While sentiment on most Asian currencies deteriorated, rupee saw bets as worries on inflation eased
Debt-related dollar inflows also help rupee