Rupee Opens Higher at 75.63 Per US dollar

Rupee in trade on Tuesday (May 5, 2020) opened higher at 75.63 versus its previous closing of 75.71 per US dollar.

Rupee Opens Higher at 75.63 Per US dollar

In the bond market, the yield on 10-year bond opened at 6.07% versus its previous closing of 6.08%.

Further even as there was seen some rebound in the currency against the US dollar, it is expected to decline to 80 levels primarily on foreign flows.

On Monday, the oil climbed by 3% as major oil producers agree on further cuts and demand is expected to get back as nations across the world ease lockdown restriction.

Meanwhile, India taking advantage of the slide in crude prices has been reported to fills 32 million tonnes commercial storage.

Further tracking upbeat Asian equities which have climbed on the back of gains in equities is trading firm after yesterday's nearly 6% loss on the headline indices.

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