Rupee Opens Higher At 74.86 Per US Dollar

Rupee in Wednesday's trade (July 8, 2020) opened at 74.86 versus previous close of 74.936 per US dollar. The gains in the domestic unit have come in despite dollar index gaining ground, which traded near 2-week low.

Rupee Opens Higher At 74.86 Per US Dollar

The yield on 10-year government bond stood at 5.7930%.

Oil in today's session remained steady below $41 per barrel as there has been reported a surprise spike in US inventories. Also, at the same time concerns over demand recovery for the commodity amid increasing coronavirus cases remain. The American Petroleum Institute reported inventories surged by 2.05 million barrels last week, with Cushing supplies gaining for the first time since early May, according to people familiar with the development.

Meanwhile Indian equities logged slim gains with Nifty above 10800 points while Sensex was at 36680 points.

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