Gold Silver Reports (GSR )- Rupee Advances Against Dollar, Hits 6-Week High – Rupee rose 16 paise to six week high of 68.26 per dollar after the central bank maintained a neutral stance at its policy review on Wednesday, much to the relief of many investors.
The MPC’s decision to hike repo rate by 25 basis points while retaining the neutral stance reiterates the view of a shallow rate-hike cycle amid increasing global and domestic uncertainties, according to analysts at Kotak Mahindra Bank.
Meanwhile, the sovereign bonds extended gain and 10-year bond yield dropped 2 basis points to 7.68 percent, lowest level since May 9.
