Rupee Opens Flat At 76.16/US Dollar, Fitch Revises India's Outlook To Negative

Rupee in Thursday's trade (June 18, 2020) opened flat at 76.16 per US dollar. In the previous trading day, weakness in the equity and India-China border tensions weighed on the currency.

Rupee Opens Flat At 76.16/US Dollar, Fitch Revises India's Outlook To Negative

In the bond market, the yield on benchmark bonds stood at 5.836%.

Meanwhile, Fitch agency has cut India's long-term foreign-currency Issuer Default Rating to negative from stable. The rating has been affirmed at BBB-.'

Oil markets on Thursday continued to be weak on rising coronavirus cases which dents demand recovery.US WTI was down over 1% at $37.36 per barrel.

Indian indices tracking weakness in the overnight trade in the US markets are trading lower flat with a positive bias.

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