Rupee, Bonds Gain On Easing Crude Oil Prices

The Indian rupee posted the best gains among Asian currencies on a slide in crude oil prices and softer retail inflation.

The rupee closed at 79.45 against the U.S. dollar, after hitting an intraday high of 79.26 on Wednesday. Its previous close was at 79.66.

Bonds also rallied amid a fall in crude oil prices. The yield on the 10-year bond closed at 7.19%, after sliding 13 basis points intraday to 7.16% on Wednesday.

Also Read: Goldman Sees India Bonds Getting Added to JPMorgan Index In 2023

The bond and forex markets were shut on Monday and Tuesday on account of local holidays.