The
Indian rupee opened higher against US dollar on Wednesday as foreign
institutional investors (FIIs) continued to buy in local equity and debt
market.
So far
this year, FIIs have bought a combined $2 billion in equity and debt. A bulk of
this, nearly $1.23 billion, has come to equity markets and the remaining $714
million to debt markets.
Bond yield fell for
the third session after the government said it will sell less debt on
Thursday’s auction than earlier planned. The government will offer Rs11,000
crore of notes compared to Rs15,000 crore planned, Bloombergreported
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