Rupee Opens Higher At 75.3 Per US Dollar

Rupee on Monday (June1, 2020) opened higher at 75.3 versus its previous close of 75.61 per US dollar.

In the previous session, the rupee posted first weekly gain in 4 as equities stood firm. Further foreign fund inflows as well as weak American dollar kept investors confident.

Rupee Opens Higher At 75.3 Per US Dollar

Today also, dollar has been softer against a basket of currencies. The dollar has been weighed by declining bond yield as more stimulus is anticipated to curb the fall out due to Covid 19.

In the bond market, the yield on 10-year government bond opened at 5.77% versus its previous closing of 5.762%.

Oil prices on Monday started on a soft note as demand worries remained but momentum continued as there were reports that Russia had no issue in pre-poning OPEC+ meet. Brent crude futures were down 8 cents at $37.76 a barrel, while U.S. crude dipped 13 cents to $35.36.

Meanwhile, Indian indices have gained as lockdown begins to ease.

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