Rupee Opens At 71.40; Bond Yield Falls On Heavy Demand For 3-Year Repo Auctions

On Tuesday, the domestic currency opened lower at 71.40 per US dollar, with a loss of 11 paise against its previous close of 71.29. The losses may be fuelled primarily by Moody's downgrade of the country's estimated GDP for FY20.

Rupee Opens At 71.40; Bond Yield Falls On Heavy Demand For 3-Year Repo Auctions

On Monday, rupee settled higher by 8 paise on the back of decline in global crude prices. Nonetheless, as per dealers, further gains in the currency were curbed due to weakness in domestic equities as well as stronger dollar against major currencies.

In the bond market, the yield on 10-year benchmark bonds stood at 6.384% as there was seen a huge demand for 3-year LTRO or repo auction opened by the RBI.

Meanwhile, in the pre-opening session benchmark indices were largely flat with a positive bias.

GoodReturns.in