Rupee Opens Higher At 75.56 Per US Dollar

Rupee on Wednesday (May 20, 2020) opened higher at 75.56 versus its previous close of 75.64 per US dollar.

On Tuesday, rupee rose as investor sentiment was boosted globally due to the progress in early trial of the coronavirus vaccine. Also, strong sentiment in Indian equities and weakness in dollar supported the home currency.

In the bond market, the yield on 10-year government bond opened at 5.76% versus its previous closing of 5.775%.

Rupee Opens Higher At 75.56 Per US Dollar

Oil prices today fell on grim economic outlook due to the coronavirus pandemic even as there has been improvement in demand as well as supply cut by major oil producers including Russia.

Brent crude futures were trading down by 11 cents or 0.3% at US$ 34.54 per barrel. US WTI futures fell 0.4% to US$ 31.83 per barrel.

Meanwhile, Indian indices were trading on a positive note despite mixed Asian cues with Nifty up 1% at 8989 points.

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