Rupee opens 9 paise up at 65.36 against dollar
ETMarkets.com|
Updated: Sep 27, 2017, 10.40 AM IST
The rupee on Wednesday opened 9 paise up at 65.36 against dollar on account of selling of American currency by banks and exporters.
The local currency on Tuesday slipped 35 paise to hit a fresh six-month low of 65.45 a dollar.
Angel Broking said, “USDINR spot is expected to depreciate as global and domestic woes prompt the foreign investors to liquidate its holding in local equity markets. Markets are concerned about India’s growth rate post demonetisation. Also, month end dollar demand from importers and banks along with the hawkish comment from the US Fed shall add to the pressure.”
Meanwhile, domestic equity markets opened in the green following mixed global cues. The BSE Sensex opened 185.48 points, or 0.59 per cent, up at 31,785, while NSE Nifty index opened 49.10 points, or 0.50 per cent, up at 9,920.
Foreign portfolio investors stood net sellers in domestic equity markets on Tuesday and sold shares worth Rs 1180.62 crore with gross purchases and gross sales of Rs 5521.81 crore and Rs 6702.43 crore, respectively.
Government bonds fell for the first time in three sessions on Tuesday, after a heavy supply of notes through a state debt sale, ahead of further auctions by the central government and the central bank later this week.
The GoI benchmark 6.79% 2027 bond yield rose to 6.67 per cent on September 26 from 6.62 per cent in the previous session.
The local currency on Tuesday slipped 35 paise to hit a fresh six-month low of 65.45 a dollar.
Angel Broking said, “USDINR spot is expected to depreciate as global and domestic woes prompt the foreign investors to liquidate its holding in local equity markets. Markets are concerned about India’s growth rate post demonetisation. Also, month end dollar demand from importers and banks along with the hawkish comment from the US Fed shall add to the pressure.”
Meanwhile, domestic equity markets opened in the green following mixed global cues. The BSE Sensex opened 185.48 points, or 0.59 per cent, up at 31,785, while NSE Nifty index opened 49.10 points, or 0.50 per cent, up at 9,920.
Foreign portfolio investors stood net sellers in domestic equity markets on Tuesday and sold shares worth Rs 1180.62 crore with gross purchases and gross sales of Rs 5521.81 crore and Rs 6702.43 crore, respectively.
Government bonds fell for the first time in three sessions on Tuesday, after a heavy supply of notes through a state debt sale, ahead of further auctions by the central government and the central bank later this week.
The GoI benchmark 6.79% 2027 bond yield rose to 6.67 per cent on September 26 from 6.62 per cent in the previous session.
