Rupee Opens Higher At 75.98 ; Easing In March Retail Inflation Also Helps

Rupee in Wednesday's trade (April 15, 2020) opened at 65.98, up 29 paise after previously it closed at 76.27 per US dollar.

Rupee Opens Higher At 75.98 ; Easing In March Retail Inflation Also Helps

In the bond market, the yield on 10-year benchmark government bond stood at 6.48%.

Retail inflation for the month of March eased on account of decline in vegetable prices, though real impact of the Covid 19 which may be become apparent in April.

Oil price today declined on bargain hunting as prices slumped in the previous session. Also there were hopes that consuming nations will look to fill up their reserves.. Brent futures were up 38 cents, or 1.3 percent, at $29.98 a barrel as of 0201 GMT, after falling 6.7 percent on Tuesday. U.S. West Texas Intermediate crude rose 36 cents, or 1.8 percent, at $20.47, having crashed 10.3 percent previously.

Gold prices in the international market soared to levels of $1800 per ounce and in the domestic market have surpassed levels of Rs. 46000 per 10 gm and some of the experts see prices skyrocket further to Rs. 53,000 per 10 gm.

Meanwhile, Indian indices taking cues of global shares will trade higher.

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