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Rupee opens flat at 70.42 per US dollar; 10-year govt bond yields rise

FE Online

Rupee vs US dollar: The Indian rupee opened marginally higher on Friday at 70.42 per US dollar from the Thursday’s close 70.41 per US dollar, as crude oil prices fell coupled with the US currency softening a bit after comments by the US Federal Reserve Jerome Powell. The domestic currency opened at 70.41 per US dollar today and touched an intraday high of 70.35 per US dollar and an intraday low of 70.48 a dollar.

At 09:20 AM, the domestic currency was trading at 70.48 a dollar, up about 8 paise from the previous close 70.408 per US dollar, according to data available on the Bloomberg website. In debt markets, the 10-year government bonds yields went up by 0.8% to 7.59% from its previous close of 7.53%. Bond yields and prices move in opposite directions.

Also Read: Share market LIVE updates: Sensex up 100 pts; Nifty nears 10,850; TCS, HCL Tech slump

Meanwhile, the domestic stock markets Sensex and Nifty opened higher on Friday tracking positive global cues. Sensex zoomed more than 103 points in the opening trade to 36,209.01, while the Nifty was trading near the 10,850-mark.

On the other hand, Wall Street extended its rally into a fifth straight day on Thursday in a session of whipsaw trading as investors responded to mixed comments by Federal Reserve Chairman Jerome Powell, while a warning from Macy s pummeled retail stocks, said the agency report.

Crude oil prices

Crude oil prices fell on Friday over economic growth concerns. International Brent crude futures were at $61.22 per barrel at 0139 GMT, down 46 cents, or 0.75%, from their last close.