Rupee resumed trade in Monday's session at a weaker note at 74.03 versus its previous close of 73.78. The domestic currency has also fell the heat of the large-scale sell off in global equities amid coronavirus outbreak.
Rupee Opens Lower At 74.03 Per Dollar
Oil also has tumbled the most since 1991 as the OPEC has refused to cut production and has instead decided on slashing prices. The prices are now below the 30$ per barrel level for U.S. West Texas Intermediate crude while for international benchmark Brent crude future it is $31.23 per dollar. The move will augur well for auto fuel customers in India as prices will heavily come down.
Meanwhile a decline to the tune of 2% on SGX Nifty point to a weak start for the benchmark indices which in last session failed to hold 11,000 levels on the Nifty amid Yes Bank crisis that emerged late on Thursday.
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