Rupee falls ahead of RBI's OMO debt sale

The rupee weakened on Thursday after the dollar gained modestly after Federal Reserve Chairman Ben Bernanke said the central bank would be flexible about its U.S. monetary stimulus.

Investors are looking ahead at a planned open market operation sale of Rs.12,000 crore from the Reserve Bank of India later in the day, in what is a key plank in its move to drain liquidity from the financial system to support the rupee.

The rupee was at 59.63/64 after closing at 59.34/35 on Wednesday.

The most traded 8.33 per cent 2026 bond was 2 basis points higher at 8.20 per cent.

Copyright: Thomson Reuters 2013