After a flat opening the Indian rupee fell to its lowest level since December 18.
Currently it is trading at 64.26 per dollar. On Wednesday it has closed at 64.15. Currency market activities remain muted during the last week of calendar year. Sharp spike in oil prices has not impacted Asian currencies and rupee so far. Exporter participation seen at higher levels. "We expect the USD-INR pair to trade in a range of 64-64.20 for the day.
Government borrowing programme through dated G-sec for last quarter announced additional borrowing of Rs 50,000 crore. The bond market is expected to be bearish on this news and also on account of sharp rise in crude oil prices.
The 10-year benchmark bond yield is expected to trade in a range of 7.26-7.31 percent for the day. The dollar fell to near 3.5 week low as US treasury yields slipped in trade, currently the US currency is trading flat versus the Japanese yen.
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