Rupee has depreciated against the dollar in-line with the yen and other EM currencies. Expected to trade in a range of 67.80-68.20/USD for the day. Liquidity deluge in banking system, fears of slowdown and expectation of interest rate cuts by RBI following demonetisation has triggered a rally in Indian bonds. Expect the 6.97 percent 2026 to trade in the range of 6.40-6.45 percent for the day. 
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