LM:Rupee holds gains against dollar in afternoon trade
Mumbai: The Indian rupee rose against the dollar on Thursday, benefitting from a global risk-on trade, but dealers said the outlook is dependant on further steps from the government and the Reserve Bank of India (RBI) to help prop up the currency.
The Indian rupee on Thursday opened higher at 61.17 per dollar on Thusday against its Wednesday’s close of 61.30. It had fell to a record low of 61.80 on Tuesday.
Bond yields eased, helped by a rise in US government debt prices. The benchmark 10-year bond yield was up 0.05 basis point to 8.186%. One basis point is one-hundredth of a percentage point.
At 2:08pm, the home currency was trading at 61.08, up 0.36% from its previous close, while the benchmark Sensex was trading at 18,798.16 points, up 0.71%.
