Rupee crosses 81 against dollar for the first time
The Indian currency continues to fall in the rupee against the dollar. Today on Friday, the rupee has crossed 81 even after breaking the lowest level ever. While the 10-year bond yield rose by 6 basis points to hit a 2-month high. This happened after the rise in US Treasury yields.
Today the domestic currency opened at 81.03 against the $1 and made a new all-time low of 81.13. According to a news of Moneycontrol, the domestic currency was trading at the level of 81.15 per dollar at 9:15 am. It has fallen by 0.33 percent against its previous closing of 80.87.
Rupee fell in 7 out of 8 sessions
This is the 7th time out of the last 8 trading sessions, when the rupee has seen a continuous fall. The rupee has fallen 2.51 per cent during the same time period. Talking about this year, the rupee has lost 8.48 percent.
The 10-year bond yield was seen trading at 7.383 per cent on July 25, up 7 basis points from its previous closing. The US 10-year Treasury yield jumped 18 basis points on Thursday and reached 3.7 per cent. This is the highest level of this decade. Based on this, it can be said that investors are seeing an increasing risk of economic slowdown.
A mixed trend has been observed in Asian currencies. China Offshore fell 0.3%, the China Renminbi 0.27%, and the Taiwan Dollar 0.1%. The Philippine Peso gained 0.3%, the South Korean gained 0.27% and the Japanese Yen 0.2%.
