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Rupee Opens Lower At 69.61 Even As Crude Oil Softens

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In a holiday-truncated week, the rupee resumed trade on a weak note. The rupee opened lower at 69.61 as against Tuesday's close of 69.566 against the greenback.

 

Rupee Opens Lower At 69.61 Even As Crude Oil Softens

Oil prices slipped in Thursday's trade after data pointed at record production of US crude, resulting in an increase in the stockpile. Nonetheless, outside of the US, oil markets remained under pressure after exemptions to US sanctions on Iran end today. Further OPEC continues to withhold the supply of oil and to worsen the situation the political crisis in Venezuela deepens.

Fed also announced its key policy decision on Wednesday and as expected held interest rates steady and maintained a cautious outlook on inflation.

Meanwhile, the Indian equities after a status quo by Fed Reserve are expected to open in the red tracking subdued Asian markets.

GoodReturns.in

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