Rupee Rises To 76.21; 10-Year Yield Falls To 7.11%
Indian rupee snapped five-day losing streak to close with 0.39% gain to 76.21 against the dollar.
The Indian currency appreciated 0.44% to 76.17 during the session.
10-Year Yield shed 5bps to close at 7.11%.
Rupee Trims Gains; 10-Year Yield Falls To 7.11%
Indian Rupee Pares Gains; 10-Year Yield Steady
Indian Rupee Trims Gains; 10-Year Yield Sheds 2bps
India Yields Mostly Lower
Most yields along the India sovereign yield curve fell, with 14-year bonds moving the most in Wednesday morning trading.
The 3-year yield was little changed at 6.13%
The 10-year yield fell 1.5bps to 7.136%
The 30-year yield fell 2.5bps to 7.443%
Source: Bloomberg
Rupee Rises; 10-Year Yield Steady
Rupee rose 0.26% to 76.31 against the U.S. dollar.
The Indian currency depreciated over the past five sessions.
Rupee is on course to snap a five-day losing streak, aided by supported by a recovery in stocks and a retreat in dollar in Asia trading.
10-Year Yield was little changed near 7.15%. Bonds are largely steady.
Source: Bloomberg
Rupee Likely To Find Support Around 76.70, Says HDFC Securities
Rupee is likely to open slightly lower following overnight gain in dollar and bond yields. However, lower crude oil prices and surge in equities could restrict the loss in intraday trade. USDINR pair is likely to show profit booking after gaining for the fifth day in a row. Rupee has resistance at 76.70 and support at 76.15.Source: HDFC Securities statement
10-Year Yield Closes Little Changed
10-year yield closed little changed at 7.15%.
The yield on the 10-year bond rose 2 bps to 7.18% and fell 3 bps to 7.12% during the session.
Rupee Logged Longest Losing Streak In Over A Month On Tuesday
The Indian rupee closed 0.32% lower at 76.51 against the U.S. dollar.
The Indian currency depreciated 0.35% to 76.53 against the U.S. dollar, during the session.
USD/INR continues to be in a slow upward drift with bias continuing to be upward as long as the pair sustains a level above 76, said Anindya Banerjee, currency strategist at Kotak Securities. "The pair has resistance near 76.50-76.60 levels".
Rupee May Move Toward Record Low Amid Outflows
The Indian rupee may move toward a record low amid continued outflows from local equities as investors exit riskier assets. Bond traders will look forward to a Rs 34,000-crore ($4.4b) of Treasury-bill sale.
Foreigners have pulled out $1.7 billion from Indian equities so far this month
USD/INR rose 0.3% to 76.5062 on Tuesday
Rupee fell to a record low of 76.9812 in March
10-year yields little changed at 7.15% on Tuesday
Global funds sold net Rs 5,870 crore of India stocks Tuesday: NSE
They sold Rs 388 crore of sovereign bonds under limits available to foreign investors, and withdrew Rs 41 crore of corporate debt
State-run banks sold Rs 2,420 crore of sovereign bonds on April 19: CCIL data. Foreign banks bought Rs 337 crore of bonds.
Source: Bloomberg
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