Rupee opens 12 paise higher against US dollar ahead of money policy review
NEW DELHI: The rupee on Thursday opened 12 paise higher at 65.03 ahead of the first bimonthly monetary policy decision of FY19.
The domestic currency on Wednesday plunged 14 paise to end at 65.15 against the US dollar as forex market sentiment took a hit after China retaliated with a tit-for-tat response to US tariff hike on imports.
Government bonds (G-Secs) gained further on Wednesday following fresh demand from corporates and banks, while, the overnight call money rates turned lower due to lack of demand from borrowing banks amid comfortable liquidity in the banking system. The 7.17 per cent government security maturing in 2028 rose to Rs 99.13 from RS 98.87, while its yield moved down to 7.29 per cent from 7.33 per cent.
The 6.68 per cent government security maturing in 2031 gained to Rs 93.21 from Rs 92.83, while its yield edged down to 7.49 per cent from 7.54 per cent.
Asian stocks were mainly higher during the opening skirmishes Thursday, taking their cue from a stronger session on Wall Street as investors judged recent trade war fears were overblown.
The dollar fetched 106.83 yen in early Asian trade, up slightly from 106.82 yen in New York and 106.56 yen in Tokyo on Wednesday.
The domestic currency on Wednesday plunged 14 paise to end at 65.15 against the US dollar as forex market sentiment took a hit after China retaliated with a tit-for-tat response to US tariff hike on imports.
Government bonds (G-Secs) gained further on Wednesday following fresh demand from corporates and banks, while, the overnight call money rates turned lower due to lack of demand from borrowing banks amid comfortable liquidity in the banking system. The 7.17 per cent government security maturing in 2028 rose to Rs 99.13 from RS 98.87, while its yield moved down to 7.29 per cent from 7.33 per cent.
The 6.68 per cent government security maturing in 2031 gained to Rs 93.21 from Rs 92.83, while its yield edged down to 7.49 per cent from 7.54 per cent.
Asian stocks were mainly higher during the opening skirmishes Thursday, taking their cue from a stronger session on Wall Street as investors judged recent trade war fears were overblown.
The dollar fetched 106.83 yen in early Asian trade, up slightly from 106.82 yen in New York and 106.56 yen in Tokyo on Wednesday.