Rupee Bond Traders: Indian sovereign bond traders will assess the minutes of the central bank’s April meeting which focused on growth recovery and demand at a Rs 32,000-crore ($4.3billion) bond auction later on Friday.
A slide in the rupee prices is exacerbating a slump in Indian corporate dollar notes that are now among the worst performers in Asia, just as concerns mount that companies are hedging less.
USD/INR Price News: Rupee trims gains below 75.00 even as India’s covid cases ease
The Indian rupee has turned into Asia’s worst-performing currency from being the best in the previous quarter. It’s poised for more losses as a resurgence in coronavirus cases to a record threatens to hamstring the economy.
The Indian rupee appreciated against the U.S. dollar, supported by strong local equities and the dollar index retreating from over three-month highs.
Indian Rupee And Bond Update : The rupee appreciated against the U.S. dollar supported by persistent greenback sales by foreign banks and weaker dollar.