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Rupee Opens Higher At 70.37 Per Dollar

Roshni Agarwal

Indian rupee in Monday's trade opened higher at 70.37, up 19 paise after closing at 70.56 in the previous session.

In the previous session, rupee hit a 2-month high as crude oil prices dropped after Saudi Arabia has agreed on a temporary ceasefire in Yemen.

The central bank has advised on having a flexible liquidity framework such that when the need be there is provided ample liquidity.

Also, the dollar has remained well-supported after the risks owing to the long US-China trade war has eased a bit. Nonetheless, higher gains remained capped due to the impeachment inquiry against the US President Donald Trump.

Oil in the session also recovered from its 2-week low, nonetheless the sentiment remained in check due to global growth concerns. US WTI crude futures rose 14 cents, or 0.3 percent to $56.05 a barrel. Brent crude futures rose 21 cents, or 0.3 percent, to $62.12 a barrel, having dipped as low as $60.76 a barrel on Friday when prices fell 1.3 percent.

Meanwhile, trend on the SGX Nifty indicate a flat to negative opening for the Indian indices.

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