Indian Rupee gains against US dollar - ZENMoney

Indian Rupee gained against US dollar due to fresh dollar selling by exporters after US Dollar sagged to eight-month lows following a failure by the US lawmakers to resolve a budget impasse coupled with RBI's announcement to conduct OMOs on October 7.

A rally in local equities along with Finance Minister's hopes on a better set of CAD numbers than initially projected further supported the Indian rupee.

Bond Prices rose as financial markets reopened after a public holiday amid optimism that RBI's plan to buy sovereign debt will spur demand. A rally in Indian Rupee against US dollar after a fall in US dollar overseas to a 8 months low supported the rise in Bonds prices further.

Source : Equity Bulls

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