Rupee Gains In Early Trade; More Policy Steps Awaited

The rupee rose on Thursday, 8 August, benefitting from a global risk-on trade, but dealers said the outlook is dependant on further steps from the government and the central bank to help prop up the currency.

 

The rupee was trading 61.19/20 to a dollar versus 61.30/31 last close. It fell to a record low on 61.80 on Tuesday (6 August).

 

Bond yields eased, helped by a rise in U.S. government debt prices. The benchmark 10-year bond yield was down 2 basis points at 8.12 per cent.

 

(Reuters)