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Mumbai: The rupee on Thursday opened 1.69 paise up at 61.69 against the dollar, as against its previous close at 63.38 vs US dollar on Wednesday. The rupee is at its highest level since August 16. The rupee on Wednesday closed just a paisa lower at 63.38 against the dollar, the narrowest movement in four months, as the currency market remained directionless ahead of the outcome of the US Federal Reserve policy meeting. New RBI Governor Raghuram Rajan will review the monetary policy on September 20 amid expectations the rupee's recovery from an all-time low of 68.85 on August 28 would help to unwind some liquidity-tightening measures introduced by the central bank to curb exchange rate volatility. Meanwhile, the government is seeking to revive economic growth and curb the fiscal and current account deficits.
Read more at: Rupee opens 1.69 paise up at 61.69 vs US dollar, at highest level since Aug 16
The rupee and bonds surged to more than one-month highs on Thursday morning as the US Fed refrained from withdrawing monetary stimulus as had been widely expected by global markets.
Sensex jumps nearly 600 points, at 20,536.84 while Nifty extends gains, up 185 points or 3% at 6,084.70 for the first time since July 24 after US Federal Reserve decides not to taper stimulus.
Emerging Asian currencies rallied with most Southeast Asian units up around 2% after the US Federal Reserve surprised investors by postponing the start of reductions to its stimulus programme.
The partially convertible rupee was at 61.88/89 per dollar by 0908 India time (0338 GMT) compared to its close of 63.38/39 on Wednesday. The unit rose as high as 61.65, its strongest since August 16.
The benchmark 10-year bond yield trading at 8.18%, after dropping to 8.14%, its lowest since August 8.
India's 1-year OIS rate trading down 32 bps at 8.80% while the benchmark 5-year OIS down 28 bps at 8.02%, dealers said.
http://www.hindustantimes.com/business-news/Markets/Sensex-up-580-points-rupee-opens-at-61-70-against-US-dollar/Article1-1124167.aspx
Read more at: Rupee opens 1.69 paise up at 61.69 vs US dollar, at highest level since Aug 16
The rupee and bonds surged to more than one-month highs on Thursday morning as the US Fed refrained from withdrawing monetary stimulus as had been widely expected by global markets.
Sensex jumps nearly 600 points, at 20,536.84 while Nifty extends gains, up 185 points or 3% at 6,084.70 for the first time since July 24 after US Federal Reserve decides not to taper stimulus.
Emerging Asian currencies rallied with most Southeast Asian units up around 2% after the US Federal Reserve surprised investors by postponing the start of reductions to its stimulus programme.
The partially convertible rupee was at 61.88/89 per dollar by 0908 India time (0338 GMT) compared to its close of 63.38/39 on Wednesday. The unit rose as high as 61.65, its strongest since August 16.
The benchmark 10-year bond yield trading at 8.18%, after dropping to 8.14%, its lowest since August 8.
India's 1-year OIS rate trading down 32 bps at 8.80% while the benchmark 5-year OIS down 28 bps at 8.02%, dealers said.
http://www.hindustantimes.com/business-news/Markets/Sensex-up-580-points-rupee-opens-at-61-70-against-US-dollar/Article1-1124167.aspx
