The Indian rupee today slipped fell against the US dollar, settling 19 paise lower at 75.74 amid broad strength in the US currency and the government's plan to sharply increase market borrowing.
During today's session, the rupee traded in the range of 75.54 and 75.77 as compared to its previous close of 75.55 per US dollar.
India's benchmark 10-year bond yield surged today after the government decided to sharply increase market borrowing amid a major hit to the economy.
The government plans to borrow ₹12 trillion in the fiscal year to March 2021, up from the previously budgeted ₹7.8 trillion.