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Rupee Posts Biggest Single-Day Gain In Nearly 4 Years, Indian 10-Year Yield At 7-Week Low

The Indian rupee surged today as the dollar plummeted after U.S. inflation data came in cooler than expected, raising hopes that the Federal Reserve would consider pivoting from its hawkish monetary policy stance. The rupee rose to two-month high of 80.80 per dollar, compared to its previous close of 81.80. This is also rupee's biggest intraday percentage gain since December 2018.Meanwhile, the Indian government bond yields tumbled on Friday, with the benchmark yield at a more-than-seven-week low, tracking a plunge in U.S. peers after data showing cooling inflation raised hopes that the Federal Reserve would slow its pace of rate hikes.#rupee #rupeevsusdollar #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday About CNBC-TV18:

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