Rupee weaker ahead of RBI rate decision

Reuters

MUMBAI (Reuters) - The rupee was weaker in early trade on Friday ahead of the Reserve Bank of India's rate decision due at 1100 am.

The rupee was at 62.08/12 versus Thursday's close of 61.77/78.

The central bank is widely expected to keep its key policy rate steady at 7.25 percent. However, hopes have risen that the RBI will scale back some of its cash tightening steps.

Bond yields rose with the benchmark 10-year bond yield up 2 basis points at 8.21 percent. (Reporting by India Markets Team; Editing by Supriya Kurane)

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