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Rupee Weakens on Global Bond Yield Pressure
The rupee slipped to 88.
India’s currency fell by 21 paise to 88.43 per US dollar in early trading as investors reacted to rising global bond yields and upcoming Reserve Bank of India auctions. Importer demand for dollars intensified amid crude-price fluctuations, adding to near-term volatility. Traders said market focus now shifts to next week’s fiscal data releases and inflation readings. Economists expect the central bank to continue calibrated interventions to stabilize exchange-rate movements while maintaining adequate liquidity in the money markets through open-market operations.