NEW DELHI: The rupee is expected to stabilise this week, after hitting a string of record lows against the dollar, while bond yields are seen range-bound after recent slight falls. Traders are awaiting details of this week's debt sale, due later Monday, and whether India announces another open market operation.
On the data front, India's fourth quarter GDP numbers due to be announced on May 31. The rupee is expected to stay in the 54.40-56.00 band this week, traders say, with global risk sentiment key for direction. The 10-year bond is expected to hold in the 8.45-8.55 percent range this week, traders also say. RBI Governor Duvvuri Subbarao is scheduled to speak at a Reserve Bank of India event on Tuesday. Several deputy governors are also attending the events.
