Appreciation in rupee to continue, bond yield to remain between 7.54-7.60%: Bhaskar Panda

Bhaskar Panda of HDFC Bank said, “The dollar index suffered another fall soon after US CPI numbers which helped EM currencies gain.”

“The USD-INR pair broke 64 on the downside yesterday and I expect the rupee appreciation trend to continue. See a range of 63.85-64.05 for the day.”

“Higher US yields, lower than expected India CPI and WPI and government borrowing programme are the main contributors for movement in the bond yield.”

“I expect the 10-year benchmark bond yield to remain within the 7.54-7.60 percent range for the day,” he added.