Rupee opens at 54.89 per dollar
The Indian rupee opened at 54.89 per dollar versus 55.42 yesterday.
"With the RBI clearly indicating that any further monetary easing would be contingent on credible fiscal consolidation, governments move on diesel price hike can be interpreted as laying the groundwork for the central bank to perhaps ease at some point in the future. Rupee and bonds are expected to rally on the govt's latest move and could rally further in the coming days if this is the precursor to more bold action in the coming days and weeks. The diesel price hike is likely to impact inflation by about 100 bps."
+POWERED BY: MONEY CONTROL NEWS