Rupee Opens Higher At 71.72 Per US Dollar

Rupee in trade on Wednesday opened at 71.72 as against previous close of 71.88.

Indian currency given the strength in dollar index that gained in comparison to other major currency and global sell-off in equities has been losing ground for some time now. On Monday, it again moved past 72 mark against the dollar.

In trade today, oil surged to an extent due to short selling in the commodity even though coronavirus fears are still looming and the US has warned its citizens to prepare for the outbreak.

Also crude oil on Tuesday recovered some lost ground but was weak 3% which declined as much as 5% in Monday's trade.

The yield on the 10-year benchmark bonds last closed at 6.36%.

Meanwhile, Indian indices tracking global sell off with US Dow falling as much as 3% due to fast-spreading corona virus may open lower.

GoodReturns.in