Market News
India central bank to help rupee contend with soaring US yields - REUTERS
MUMBAI, Oct 22 (Reuters) - The Indian rupee is likely to open nearly unchanged on Tuesday and trade in a narrow range amid expectations that the country's central bank intervention will offset the impact of a jump in the U.S. Treasury yields.
The 1-month non-deliverable forward indicated that the rupee will open at 84.07-84.08 to the dollar, compared with 84.0725 on Monday and a record low of 84.0775 hit last week.
The rupee's dip past the key level of 84 earlier this month has been of little consequence in terms of the currency's volatility. The rupee's realized volatility remains the lowest among Asian currencies. The biggest intraday swing on the currency since it declined past 84 has been just 10 paisa.
