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Rupee Opens Strong At 75.73 Per Dollar

Roshni Agarwal

Rupee in Tuesday's trade (May 26, 2020) opened strong at 75.73 versus previous close of 75.97 per US dollar. The gains in the rupee have come tracking positive cues from global equity markets. Softer dollar on the other hand is also imparting strength to the Indian currency.

On a weekly basis, the domestic unit was the second worst performing currency among its emerging market peers.

In the bond market, the yield on benchmark bond stood at 5.75%. Further, traders will be eyeing state government debt sale worth Rs. 18200 crore.

Oil on Tuesday gained as major producers maintain their commitment to cut crude supply and world economies open up after coronavirus-led restrictions. US WTI crude futures gained 2.3% or 75 cents to $34 per barrel. Brent crude futures also edged higher by 0.7% or 23 cents to $35.76.

Meanwhile, Indian equities tracking strength in Asian equities are trading with gains, with Nifty topping levels of 9100 points.

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