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Rupee Opens Higher At 69.38

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Rupee in Monday's trade opened higher at 69.38 versus the previous close against the dollar.

Meanwhile, oil has increased in price after OPEC has hinted at maintaining production cut. The prospect of a second term for the BJP is likely to see a revival of the foreign funds into the Indian markets.

Rupee Opens Higher At 69.38
 

Also, there has been seen a positive sentiment into the bond market and with it, yields are likely to soften a bit.

In the pre-opening session, Sensex and Nifty made whopping gains, with gains of 2% each, on exit polls predicting Modi win with a majority.

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Read more about: rupee dollar exit polls election crude
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