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Rupee edges 15 paise higher against US dollar in early morning trade; 10-year govt bonds yields fall

FE Online

Rupee vs dollar: After opening flat against the US dollar on Thursday, the Indian rupee edged higher by about 15 paise in the early morning trade to 70.32 per US dollar from the previous close of 70.47 per US dollar. The domestic currency opened today at 70.53 per US dollar.

At 9:40 AM (IST), the domestic unit was trading at 70.40 per US dollar, after touching an intraday low of 70.54 per US dollar and intraday high of 70.32 per US dollar, according to data available on the Bloomberg website. In debt markets, the 10-year government bonds yields declined 1.4% to 7.53% from the previous close of 7.64%. Bond yields and prices move in opposite directions.

On Wednesday, the Indian rupee extended its losses by another 25 paise to close at 70.46 against the US dollar, on account of continued increase in global crude oil prices that weighed on sentiments.

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Meanwhile, the domestic stock markets Sensex and Nifty opened with minor gains but soon fell into the negative territory. Sensex is down about 45 points to 36,163.67 points, while the Nifty is trading below the 10,850-mark.

Asian markets turned south Thursday as investors took a breather after rallying this week on optimism over China-US trade talks and the Federal Reserve s softer tone on interest rates, Reuters reported. US crude and Brent rose overnight, on the back of optimism over easing the US-China trade disputes. Brent crude futures were up more than 4.6% overnight.