rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » RBI likely to sell dollars to help rupee recover

RBI likely to sell dollars to help rupee recover

August 20, 2013 11:51 IST

RBIThe Reserve Bank of India was seen selling dollars via state-run banks, starting at around 63.85 levels, to pull the rupee off record lows, five dealers told Reuters.

The rupee was last at 63.56/58 to the dollar, off its low of 64.13 seen early in session.

Bond yields also came off with the recovery in the rupee.

The 10-year yield was last at 9.27 per cent, up 4 basis points on the day, tracking the rupee recovery.

It rose to 9.48 per cent in session.

Swati Bhat and Subhadip Sircar in Mumbai
Source:
© Copyright 2013 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.