On February 19, 2020, currency markets are closed today for Chattrapati Shivaji Jayanti.
Rupee on Tuesday closed lower at 71.56 per US dollar on the back of weak equities and sustained foreign fund outflow. Also, concerns over economic growth due to the coronavirus epidemic also took a toll on the forex markets.
Oil today stabilized in price after American sanctions on the largest producer in Russia aided some recovery in oil prices which earlier receded lower due to coronavirus epidemic which is seen as a demand dampener.
In the bond market, the yield on the benchmark bond closed at 6.38%. Notably, borrowing costs for banks have come to 14-year low and hence the bond markets are seeing a rally.
Meanwhile, SGX Nifty indicate a positive opening for the benchmark indices.