The rupee settled at 83.29 per US dollar on Wednesday, a new record closing low. The local unit had settled at 83.25 per US dollar on Tuesday. So far in 2023, the rupee has depreciated 0.7% versus the US dollar. The rupee’s previous record closing low was 83.28 per US dollar.
Debt funds pricing in a rate cut step up bets on long end of yield curve
Mutual funds have broadly stepped up their bets in longer-duration government bonds in 2024 as the likelihood of interest rates being lowered – even if