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Rupee Trades Firm To Levels Below 75/US Dollar

Roshni Agarwal

Rupee in trade on April 30, 2020 traded higher at 74.97 as against the earlier 1-month high close at 75.67per US dollar. In trade ttoday, the domestic unit opened higher by 50 paise at 75.16.

But the positive momentum in the domestic currency is unlikely to sustain as per experts.

In the bond market, the yield on 10-year benchmark bond yield stood at versus its previous closing of 6.12%.

Oil too recovered ground in double-digits as demand is seen to pick up as economies world over are slowly easing lockdown restrictions.

Notably, the US Fed in its recent policy decision has maintained interest rates near zero and have vowed to take on to all possible tools for combating the economic fall-out due to Covid 19.

And amid dollar continued its losing streak as more of stimulus measures likely weigh on the currency.

Meanwhile, Indian indices have gained for the fourth straight day on positive hopes of treatment against Covid 19 and global cues.

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