Tuesday, 16 July 2013

Rupee gains on government FDI steps!!

The rupee was at 59.19/20 after rising to 59.05 as against 59.31/31 last close.


The rupee gained modestly on Wednesday as the government eased rules for foreign investment , adding to measures taken by the RBI to suck out rupee liquidity.

The rupee was at 59.19/20 after rising to 59.05 as against 59.31/31 last close.

However, bond yields jumped, adding to Tuesday's large bond price losses. Yield on the most traded 8.33 pct 2026 bond was 10 basis points higher at 8.27 percent.

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