Rupee Bond

The rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Thursday, weighed down by unabated foreign fund outflows and strong dollar demand from investors. Forex traders said the downward pressure on the USD/INR pair is largely driven by persistent inflation and significant foreign outflows. At the interbank foreign exchange, the rupee opened at 84.40 against the greenback, registering a fall of 1 paisa over its previous close. On Wednesday, the rupee moved in a narrow range and settled flat at 84.39 against the US dollar. "... the Reserve Bank of India (RBI) has stepped up as the rupee's primary protector. The central bank has intervened by selling dollars to support the currency, though this has led to a dip in India's forex reserves, which now stand at USD 682 billion, down from a peak of USD 704 billion," CR Forex Advisors MD Amit Pabari said. Pabari further added that "given the current landscape, the USD/INR is likely to trade within a ran

India is one of the largest oil importers and easing prices of crude could reduce inflationary pressures. The retail inflation accelerated to a nine-month high of 5.49 per cent in September

Canada's Brookfield Asset Management had said at the start of the year that it would buy ATC's India operations, ATC Telecom Infrastructure, for $2.5 billion via the trust

The benchmark 10-year yield is likely to move between 6.85 per cent and 6.89 per cent till the debt auction

The benchmark 10-year yield was at 6.9724 per cent as of 10:00 a.m. IST, after closing at 6.9767 per cent in the previous session

The 10-year govt bond yield surged 7 bps to its highest level in over two months tracking the rise in US Treasury yields

The rupee depreciated 7 paise to 83.38 against the US dollar in early trade on Friday, weighed down by a negative trend in domestic equities and elevated crude oil prices. Forex traders said the strength of the American currency in the overseas market also dented investor sentiments. At the interbank foreign exchange, the rupee opened at 83.36 against the dollar and touched a low of 83.38 in the initial trade, registering a fall of 7 paise over its previous close. On Wednesday, the rupee closed flat at 83.31 against the US dollar. Stock, money, commodity, and derivative markets were closed on Thursday on account of Eid-Ul-Fitr. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 105.35, higher by 0.07 per cent. Brent crude futures, the global oil benchmark, rose 0.58 per cent to USD 90.26 per barrel. "Brent oil continued to remain in the higher side of the curve on Middle East jitters as Iran promised to retaliate for a .

The rupee appreciated 8 paise to 83.23 against the US dollar in early trade on Monday, supported by positive domestic equities and fresh foreign fund inflows. Forex traders said investor sentiments got a boost as crude oil prices retreated from their elevated levels, while the strength of the American currency in the overseas market weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.27 against the greenback. It later touched 83.23 in initial trade, higher 8 paise from its previous close. On Friday, the rupee appreciated 8 paise to close at 83.31 against the US dollar as the Reserve Bank of India kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row. The rupee is expected to trade in a range as the Reserve Bank continues to protect it from falling further while inflows may bring it to 83.20, Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors

RBI intervention not seen; Delivery of $/Re swap boosts reserves

The fall in US Treasury yields and foreign portfolio investor (FPI) inflows further aided rupee and bonds

Axis Bank, which dominated the local-currency bond market from 2007 to 2022, came in third after arranging 763.5 billion rupees of transactions

Flagship Adani Enterprises Ltd. became the first of Indian billionaire Gautam Adani's firms to sell local-currency bonds, since being targeted by US short seller Hindenburg Research in January

The issuance is also Bharti's first in the onshore market in almost a year. It raised Rs 3,200 crore through three-year notes in December last year

Reliance Industries is India's largest company by market value, and its business interests range from petrochemicals refining to wireless communication services and consumer goods

The rupee appreciated by 38 paise to 82.75 against the US dollar in early trade on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment. Forex traders said the decision of JPMorgan Chase & Co to include Indian government bonds in its benchmark emerging-market index, is expected to have far-reaching implications for India's debt market and global investors. At the interbank foreign exchange, the domestic unit opened strong at 82.75, registering a gain of 38 paise from its previous close. On Thursday, the rupee consolidated in a narrow range to settle 2 paise lower at 83.13 against the dollar. India's inclusion in a major global bond index will open doors to increased foreign investment in the nation's debt market, traders said. "The inclusion of India in the JPMorgan bond index has had a favourable effect on the rupee, with the currency showing strength by appreciating around 0.42 per cent in the NDF markets and reaching levels around 82.80," CR .

The revised rules require the Reserve Bank of India's approval for any change in classification of bond holdings out of the held-to-maturity book

The bond would be Titan's first in rupees, according to Bloomberg-compiled data

The New Development Bank (NDB) issued its first rand bond in South Africa last week and could consider local currency issuance in members Brazil, Russia and United Arab Emirates

The yield on the benchmark 10-year bond rose 4 basis points to settle at 7.16 per cent

The yield on the benchmark 10-year bond settled at 7.12 per cent, compared to 7.10 per cent on Wednesday