Rupee gains for 3 straight sessions, settles at 83.57

economictimes.indiatimes.com:

Japanese Yen.
The Japanese Yen dipped to its lowest level since 1986, and fell 0.4% to 160.39 per US Dollar. The month end has caused demand to spike up in crude oil and Brent prices were up 0.58% and were trading at $85.5

“Earlier the market was expecting that the Bank Of Japan would intervene. Japan is known as the funding currency, so this affects a lot of things, because this affects the countries that have borrowed from Japan including India”, said Dilip Parmar, Research Analyst of HDFC Securities. “When our Asian peers are depreciating, as a consequence INR also depreciates”, he said.

The 10 year benchmark bond saw a rise in yields by a basis point, but is within the expected range as per market players. The yields closed at 7.00% on Wednesday.
“The range is 6.95% to 7.02%, we are at 7%, so the market will go up by another basis point or two and then the inclusion will happen. Right now they're selling for mutual funds which is causing a dip in the market”, a trader at a Primary Dealership said.
Liquidity has been a tight deficit of more than Rs. 1.4 lakh crores, but markets expect liquidity to ease next week onwards as the government starts spending. The quarter and month end, along with the liquidity deficit are also prompting state run banks to lend less to Primary Dealers, traders said.