The Rupee opened stable as it finds some support tracking Asian equity indices that were higher in early trade as Chinese property developer Evergrande made an overdue interest payment to international bondholders on Thursday, potentially mitigating the fallout from its massive impending debt defaults. Evergrande was nearing the end of a 30-day grace period before bondholders could send a notice of default to the company, after it failed to make the interest payment on about $2.03 bln of dollar bonds last month. Crude plunged on Thursday after the US National Oceanic and Atmospheric Authority forecast a mild winter in the US, particular in the south and east of the country, hurting the outlook for oil demand in the coming months.......
The US dollar gained against a basket of other currencies as weekly jobless claims in the country fell to a 19-month low, indicating the economy recovered after weaker labour market readings in September following a fresh surge of COVID-19 infections. Asian equity indices traded on a positive note early in the day, as Chinese property developer Evergrande made an overdue interest payment on Thursday, potentially mitigating the fallout from its massive impending debt defaults. The Chinese government's statement that it would loosen controls on the property market also contributed to the gains in Asian stocks.......