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Rupee Opens Higher At 72.42


The rupee in trade today has opened higher at 72.42 against the dollar with propel due to import duty hike. On Wednesday, the currency closed at 72.61 again higher than the opening at 72.70

The pre-opening session has also been positive with almost 1% high for Nifty.

Rupee Opens Higher At 72.42

Meanwhile, RBI has asked to maintain some portion of the mandated SLR as LCR or liquidity coverage ratio. SLR is the amount mandated for the banks to be kept in government bonds. This is to enhance liquidity in the system amid liquidity crunch. RBI has asked to carve out 2% more SLR to meet LCR norms.

This though means that government bonds can be kept with the RBIto borrow more and this borrowing will boost liquidity sentiment.

The dynamic assessment will be made to meet dynamic liquidity needs through various instruments.

The bond yield is almost flat and NBFC and financial entities may get a boost from the RBI's liquidity move.

Read more about: rupee dollar
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