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Rupee Trades Higher At 71.70 After RBI's Third Operation Twist

Roshni Agarwal

In Tuesday's trade rupee opened higher buoyed by positive global cues.

Rupee on Monday spooked by tension in the Middle East moved lower past 72 mark per dollar but ended slightly higher at 71.93. And as amid geo-political and economic crisis, gold gains its safe haven appeal, investors resorted to buying in it which pushed its price highest in 6 years in the global markets.

In the domestic front, it breached the psychological levels of Rs. 41000 per 10 gm.
On Monday, RBI conducted its third round of operation twist to ease interest rates in the economy in order to boost sagging economic growth.

In the bond market, the yield on benchmark 10-year bonds stood at 6.54% versus its previous close of 6.57%.

Meanwhile, equities tracking gains in the US and other Asian markets may gain marginally after Monday's huge sell off.

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