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Rupee Opens Strong At 75.52 Per US Dollar

Roshni Agarwal

Rupee in Friday's trade (June 25, 2020) opened weak by a tad bit in line with weakness in the equities. The home currency opened at 75.52 versus its previous close of 75.66 per US dollar.

Easing crude oil prices and foreign inflows are supporting the domestic currency.

In the bond market, the yield on benchmark bonds stood at 5892%.

Oil prices are seen increasing by small quantum as corona threat still continues to dent demand outlook for the commodity. There are also indications of a recovery in production from the US.U.S. West Texas Intermediate (WTI) crude futures gained 15 cents, or 0.4%, to $38.87 at 0009 GMT but were on track for a slight drop for the week. Brent crude futures rose 22 cents, or 0.5%, to $41.27, but were also heading towards a decline for the week.

Meanwhile, Indian equities are trading in a positive territory with gains of nearly 1%, with Nifty at 10381 and Sensex at 35114.

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