The rupee on Monday opened 21 paise down at 65.37 against dollar on account of buying of American currency by corporates and importers.
The local currency on Friday settled 22 paise down at 65.16 against the US dollar.
Foreign portfolio investors stood net sellers in domestic equity markets on Friday and sold shares worth Rs 667.24 crore (net) with gross purchases and gross sales of Rs 5,722.60 crore and Rs 6,389.84 crore, respectively.
“USD-INR spot is expected to depreciate in the coming week as investors are pessimistic about America’s fiscal reforms which shall refrain them from making any risky bets.”
Government bonds tumbled last week, with the benchmark yield posting its biggest weekly gain in nearly seven months, as rising crude oil prices stoked inflation concerns.
The GoI benchmark 6.79% 2027 bond yield rose to 6.96 per cent on Friday from 6.93 per cent in the previous session.
Meanwhile, domestic equity markets opened on a cautious note following mixed global cues. The BSE Sensex was down 25.52 points, or 0.08 per cent, at 33289 at 9.30 am (IST), while NSE Nifty index was down 24.85 points, or 0.24 per cent, at 10,296 at around the same time.
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