The Indian rupee appreciated for the second straight session on Monday against the dollar, tracking gains in most regional currencies and possible inflows related to an upcoming IPO.
Rupee And Bond Update
The rupee ended at 74.57 compared with 74.64 in the previous session.
A broad risk-on mood also lent support to the local unit on Monday.
Meanwhile, investors will look to cues from U.S. CPI and Federal Reserve Chairman Jerome Powell’s testimony this week.
Back home, India’s June retail prices rose at a slightly slower pace than in the previous month, but it remained above the central bank’s tolerance ceiling for a second month on higher fuel and food prices.
The benchmark 5.85% bond maturing in 2030 ended Rs 97.39, yielding 6.22%, against Rs 97.63 and 6.19% yield on Friday.
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