Rupee Opens Lower At 71.47

Rupee in Monday's trade opened at 71.47 as against previous close of 71.33
In bond market, yield on 10-year benchmark bonds stood stable at 6.58%.

Oil on Monday declined further on Corona virus outbreak which is seen to disrupt demand for the commodity. More than 27044 corona virus cases have been confirmed in China and death toll has risen to 80. Oil prices shed almost 2% even as Saudi Arabia minister intervened to calm oil markets. Brent crude declined by $1.12 a barrel, or 1.9%, to $59.57 by 0113 GMT. U.S. crude slipped by $1.14, or 2.1%, to $53.05, having earlier eased to $52.15, the lowest since early October.

In contrast, safe havens have once again gained limelight with treasuries and yen inching higher.

Meanwhile, taking Asian cues which saw markets, Indian markets are seen to open lower.

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