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Rupee Slides Past 76 Per US Dollar

Roshni Agarwal

Rupee on Monday opens lower at 75.68, down 44 paise against its previous close of 75.24 per US dollar. And tracking weakness in the equities, rupee slides past 76 levels to 76.05 at around 9:15 am.

Oil prices in today's trade were further dragged lower as the governments resorted to lockdowns for curbing the spread of coronavirus infection which has taken a hit on demand outlook for the commodity as well as threatened global recession.

Brent crude futures were down $1.09 or 4% to $25.89 per barrel by 0209 GMT. West Texas Intermediate (WTI) crude futures fell 15 cents or 0.7% at $22.48 per barrel. Since the beginning of the calendar year 2020, oil has shed almost 60% in prices.

In the bond market, the yield on 10-year government bonds opened at 6.294% versus its previous close of 6.259%.

Meanwhile, decline of 10% on SGX Nifty indicate a negative opening for the Indian indices.

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