| Date: |
21-06-2013 |
| Subject: |
Indian rupee, bonds slip again in early trade |
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Mumbai: The Indian rupee on Friday opened at 59.76 per dollar, down 0.32% from its previous close of 59.58.
On Thursday, the local currency had touched a lifetime low of 59.98 after Federal Reserve chairman Ben Bernanke said the central bank would start to reduce its stimulus measures later this year if the economy is strong enough.
At 9.02am, the domestic currency was trading at 59.74 per dollar, down 0.26%. India’s equity benchmark Sensex was trading at 18,616.44 points, down 0.55%.
Indian government bonds also fell hit by fears that foreign investors would continue to sell debt as the rupee weakens towards record lows and as US treasury yields surge, narrowing the differential with domestic debt yields.
India’s benchmark 10-year bond yield rose 4 basis points to 7.43%. Foreign investors were net sellers of $64.94 million in domestic debt on Wednesday, according to the latest available regulatory data.
The central bank will sell Rs.15,000 crore of debt later in the session.
Source : livemint.com
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