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Rupee Opens Still Lower At 71.75

Roshni Agarwal

The rupee resumed trade on Wednesday on a still weaker note declining as much as 29 paise at 71.75 in comparison to Monday's close of 71.46.

Rupee in the light of positive developments on the US-China trade deal front as well as the recent erupted Hong Kong crisis is expected to trade rangebound or may even strengthen due to some gains on the dollar index.

There remains no clear signs for the direction for the rupee as the upcoming OPEC meet can also signal deep cut in oil lifting up the price for crude oil, which could pressurize the home currency.

In the bond market, yield on 10-year benchmark bond came in at 6.54%.

Meanwhile, in the opening benchmark indices swung between gains and losses.

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