Rupee Falls to Record Low of 81.09 in Early Trade.

The 10-year U.S. Treasury yield overnight climbed above 3.70% and the two-year yield reached a high of 4.16%

[{"selector":"#anim-3d2d4bc5-f04e-4a51-861c-b80881dae43d","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-570eea44-1262-4f39-86e2-c8698adf21bb","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The fall in rupee premiums to the lowest level in over ten years is expected to aid importers to a small extent .

[{"selector":"#anim-87d81023-8028-4fa0-b2d7-f4e50c5418ce","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8e6b56a2-a682-4711-aa78-51662f481702","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The Indian rupee recorded yet another record low on Friday, as it touched the 81 mark against US dollar and scaled 81.09 at open.

[{"selector":"#anim-dba7016e-5abc-402f-b5db-051ac3fd2e06","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-31898f5b-132e-444a-8ee4-61582eb3e4ec","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

This implies more rate hikes of about 125 basis points over the remaining two meetings in 2022.

[{"selector":"#anim-8033fc9a-e505-4b28-9ea8-33e101035a4d","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-9a9034f5-8310-45b6-b70a-da035ead9929","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

“You can expect more importer activity today, and speculators will once again test the RBI.”

[{"selector":"#anim-4b69d0a4-803b-462c-8551-0d23afff09b4","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e390f097-025f-4f99-82d5-aa9440dddfca","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]