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Rupee Opens Higher At 71.50

Roshni Agarwal

The Indian rupee on Wednesday opened higher by 28 paise at 71.50 per dollar against previous close 71.78. The gains in the currency have come in as oil fears receded.

Oil prices eased today after Saudi Arabia affirmed that the kingdom has managed to restore all of its oil supply which got disrupted due to drone attack on its oil processing unit over the weekend.

Meanwhile, in the pre-opening, Nifty traded above 10,850. At the start of the session, Nifty opened with gains of 65.90 points or 0.61% at 10883.50, while Sensex moved higher by 178.92 points or 0.49% to trade at 36660.01. On Tuesday, Nifty erased all its gains of 2019 as oil fears lingered at a time when government is struggling to tackle economic slowdown.

The yield on 10-year benchmark bonds stood at 6.67%

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