Bonds steady on fisc ishq, Re fears foreign fund flight
Business new tamfitronics The rupee closed at a new low of 83.69 against the dollar on Tuesday, down three paise from its previous close of 83.66. The currency was under pressure because of volatility in the stock markets coupled with uncertainty over the US political situation. Dealers said that there were transactions at 83.71 in intraday trade. While RBI did intervene, it was not seen as aggressively defending the rupee."With the US elections in focus and the Fed's policy decision at the end of the month on July 31, rupee volatility near the lower range continues," Jateen Trivedi, VP at LKP Securities, said."The rupee range can be seen between 83.45 and 83.90 in upcoming sessions."The rupee has been under pressure since Monday following a decline in the Chinese yuan even as RBI has been...
