Rupee opens 18 paise down at 65.05 ahead of RBI monetary policy outcome
The rupee opened 18 paise down at 65.05 against dollar ahead of the RBI's first bi-monthly policy review for 2017-18 due later in the day.
Meanwhile, domestic equity markets opened in red following weak global cues. The 30-share BSE Sensex opened 27.35 points, or 0.09 per cent, down at 29946.89, while the 50-share NSE Nifty index opened 19.35 points, or 0.21 per cent, down at 9,245.80.
The local currency on Wednesday hit a fresh 17-month high of 64.87 by gaining 16 paise against the US dollar on heavy selling of the American currency by banks and exporters.
For Thursday’s trading session, Angel Broking in a research note said, “USDINR spot is likely to trade in sideways to lower as traders avoid making any risky bets prior to the RBI policy meet.”
Foreign portfolio investors stood net buyers in domestic equity markets on Thursday as they bought shares worth Rs 584.40 crore with gross purchases and gross sales of Rs 3647.90 and Rs 3063.50 crore, respectively.
Government bonds fell on Wednesday as investors defer purchases ahead of the Monetary Policy Committee’s interest rate decision due on Thursday. Although the consensus is for no change in interest rates, the liquidity stance would provide clues as the banking system remains awash with liquidity.
The benchmark 6.97% 2026 bond yield remain unchanged at 6.65 per cent in the previous trading session.
Meanwhile, domestic equity markets opened in red following weak global cues. The 30-share BSE Sensex opened 27.35 points, or 0.09 per cent, down at 29946.89, while the 50-share NSE Nifty index opened 19.35 points, or 0.21 per cent, down at 9,245.80.
The local currency on Wednesday hit a fresh 17-month high of 64.87 by gaining 16 paise against the US dollar on heavy selling of the American currency by banks and exporters.
For Thursday’s trading session, Angel Broking in a research note said, “USDINR spot is likely to trade in sideways to lower as traders avoid making any risky bets prior to the RBI policy meet.”
Foreign portfolio investors stood net buyers in domestic equity markets on Thursday as they bought shares worth Rs 584.40 crore with gross purchases and gross sales of Rs 3647.90 and Rs 3063.50 crore, respectively.
Government bonds fell on Wednesday as investors defer purchases ahead of the Monetary Policy Committee’s interest rate decision due on Thursday. Although the consensus is for no change in interest rates, the liquidity stance would provide clues as the banking system remains awash with liquidity.
The benchmark 6.97% 2026 bond yield remain unchanged at 6.65 per cent in the previous trading session.
