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Indian Rupee opens stronger against US dollar

Indian Rupee

Indian Rupee

The Indian Rupee was trading at 66.90/91 per dollar at 9:10 a.m., 2.8 percent stronger than its close of 68.80/81 on Wednesday, when it hit a record low of 68.85.

Besides, the dollar selling by exporters and banks, fresh measures announced by the RBI to curb the rupee’s slide and fall in crude prices in the global market, helped domestic currency to rebound, forex dealers said.

The rupee on Wednesday had registered its biggest single-day fall of 256 paise to close at an all-time low of 68.80 against the dollar as global oil prices jumped, deepening concerns about the current account deficit and capital outflows.

The benchmark 10-year bond yield also gained tracking the rupee, with the yield falling as much as 21 basis points to 8.75 percent.

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