Sunday, August 25, 2013

Rupee, bonds weaken at open; further falls expected

MUMBAI | Mon Aug 26, 2013(7STAR NEWS)

(Reuters) - The rupee weakened in opening trade on Monday, tracking a lower rupee in the non-deliverable forward markets, while bond yields also edged up on back of the currency\'s fall, traders said.

Traders expect the rupee to drop further due to month-end dollar demand from importers likely later in session.

The partially convertible rupee was trading at 63.82/84 per dollar at 9:08 a.m. (0338 GMT) compared with its Friday close of 63.20/21. The one-month offshore NDF was trading at 64.60/70, sharply weaker than the onshore spot rate.
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