Market Outlook - The partially convertible rupee stronger at 59.04/$

The partially convertible rupee stronger at 59.04/05 per dollar compared with its close of 59.11/12 as the central bank's measures to drain liquidity shore up the currency, but gave up most gains as sustained dollar demand from importers to meet month-end import commitments weighed. The benchmark 10-year bond yield 3 basis points (bps) lower at 8.16 percent as the central bank's steps to further tighten cash to curb rupee speculation showed high short term rates were here to stay.

Today’s Headlines

1)      Yen Rises Second Day as Consumer Prices Increase; Won Advances

2)      Treasury Demand Weakens at Note Sales Amid Fed Taper Speculation

3)      Pound Heads for Third Weekly Advance as Growth Outlook Improves

4)      Russia Sees Risks Emerging as Foreigners Amass State Debt

5)      Aussie Headed for Second-Straight Weekly Gain Before Fed Meeting

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