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Rupee Opens At 74.38 Per Dollar; RBI To Supply Banks With Dollar
Rupee in Friday's trade opens lower at 74.38 versus its previous close of 74.25 per US dollar.
In Thursday's trade when Indian equities witnessed the heaviest fall of 2900 points on the Sensex, in intra-day trade rupee touched an all-time low of 74.48 per US dollar.
After the rupee breached this new low, the RBI said it will supply banks with dollars via sell-buy swaps for ensuring amply supply amid global rout.
Oil markets also witnessed slump of 8% in overnight trade and are on course to hit the worst week since 1991.
In the bond market, the yield on 10-year benchmark bonds is at 6.28% versus its previous close of 6.23%.
Meanwhile, trends on the SGX Nifty with decline of significant amount, there is expected that Nifty would open below 9000.
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