Rupee Opens Lower At 69.04

In Friday's trade, the home currency opened weak by 12 paise at 69.04 as against previous day's close of 68.92. The gains in the earlier session were largely due to sustained foreign fund inflow.

Rupee's trajectory will be largely governed by inflation and industrial production number due to be released today.

10-year bond yield is trading 7.2382% and is expected to remain volatile given the macros and oil pricing which has eased after the US supply has been found to be ample. Nonetheless, oil has again been firm and that poses a benign threat to India's inflation which last week allowed RBI to give a second consecutive rate cut of as much as 25 basis points to 6%

Other Asian currencies are also trading with gains as against the dollar.

While Nifty has been above 11,600 in the pre-opening session, it is expected to open lower on the back of signals indicated by SGX Nifty.

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