1. Rupee down 8 paise vs dollar, bonds close flat

Rupee down 8 paise vs dollar, bonds close flat

The rupee on Friday closed at 66.89 against the dollar, down 8 paise, as foreign investors continued to sell off Indian equities and debt.

By: | Mumbai | Published: October 22, 2016 6:10 AM

The rupee on Friday closed at 66.89 against the dollar, down 8 paise, as foreign investors continued to sell off Indian equities and debt.

Traders said weakening of most Asian and EM currencies against the dollar weighed on the sentiment. Increased demand for dollar also had a negative impact on the rupee. So far this year, FIIs have net sold $784.6 million of debt and have net bought $7.45 billion of equities.

The dollar index rose 0.4% during Friday’s trade to 98.68. The 10-year benchmark bond yield closed flat at 6.76%.

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