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Business Thomson Reuters Thursday December 13, Bonds rose on Thursday after inflation eased sharply in November, bolstering expectations of a rate cut sooner than expected, while the rupee also strengthened as global trade tensions eased. At the interbank forex market, the rupee opened lower at Rupee Edges Higher Against Dollar: The rupee edged higher by 10 paise to Increased foreign fund inflows and a higher opening of domestic equities also supported the rupee, traders were quoted as saying in the PTI report.
The rupee closed 39 paise lower against the dollar on Monday, as crude oil rose and the dollar rose overseas. The rupee moved lower against the American currency after top crude oil producer Saudi Arabia's announcement of its plans to reduce output pushed the global oil rate higher.
The rupee slipped below the 73 mark against the dollar in intraday The US dollar strengthened against its rivals ahead of the Federal Reserve's release of minutes from the September meeting. Forex dealers said bullish trend in the equity market as well as easing crude oil prices supported the rupee's upward movement.
Rupee Hits Lifetime Low Of The rupee reversed all of its gains against the US dollar to hit a lifetime low of A surge in crude oil prices and strength in the American currency overseas pulled the rupee lower. The rupee had started Tuesday's session on a higher note by opening at Rupee Recovers Against Dollar: Backed by fresh selling of the American currency by banks and exporters, the rupee strengthened by 18 paise to Easing global crude prices and a positive opening of domestic equity indices also supported the local currency on Tuesday, traders said.
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