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Rupee Trades Tad Lower At 71.25 Ahead Of RBI MPC Statement

Roshni Agarwal

Rupee in Thursday's session trades tad lower at 71.24 as against previous close of 71.21 per US dollar.The street now eyes the last MPC outcome of the FY'2020 amid slowing economy and increasing inflation.

In the bond market, yield on benchmark 10-year bonds stood at 6.5%.

Oil on Thursday rose for the second consecutive day as investors turned optimistic on the back of reports of likely medical advancements that could help in mitigating the global coronovirus spread. Brent futures rose by 62 cents, or 1.1%, to $55.90 a barrel by 0142 GMT, having risen 2.4% in the last session. US West Texas Intermediate (WTI) futures gained 73 cents, or 1.4%, to $51.48 a barrel after rising 2.3% on Wednesday.

Meanwhile, in the pre-opening session Indian indices were up close to 0.9% with Nifty close to 12100 points.

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