Rupee on Thursday (May 21, 2020) opened higher at 75.61 versus its previous close of 75.80 per US dollar.
In the bond market, the yield on 10-year government bond opened at 5.77% versus its previous closing of 5.78%.
Fitch Ratings is of the view that India is set to see a rating cut owing to elevated public debt levels as well as fiscal deficit in double-digits. On the contrary, Kotak Securities holds that losses in the home currency shall remain capped due to strong corporate inflows.
Meanwhile, Indian benchmark indices tracking strength in the Asian markets was trading on a positive note with Nifty up 0.51% at 9110 points.