INSUBCONTINENT EXCLUSIVE:
On Monday, the rupee had settled 24 paise lower at 73.56 against the US dollar.Mumbai: The rupee bounced back from the day's low level to
settle almost flat at 73.57 against the US currency on Tuesday helped by easing crude oil prices and increased dollar selling by banks and
The rupee opened weak at 73.74 and later fell to the day's low of 73.82 due to steady capital outflows amid deep losses in stock markets due
to growing geopolitical concerns
However, retreating crude oil prices which fell 1.93 per cent to $78.29 per barrel eased concerns and helped arrest a decline in the local
currency, a dealer said.Increased dollar selling by banks on the behalf of the Reserve Bank helped the rupee recover from losses
"Rupee pared losses and closed flat as crude oil prices retreated and dollar selling by state run lenders on behalf of RBI," V K Sharma,
The benchmark 10-year bond yield fell by 4 basis points, the most since October 16, to 7.89 per cent as investors cut down exposure to
The rupee settled at 73.57 per dollar, showing a loss of just 1 paise over the previous close
The reference rate for rupee/British pound was fixed at 95.5568 and for rupee/100 Japanese yen was 65.62.
