Rupee Opens Lower On Weak Equity And Firm Dollar

Rupee on Monday (May 5, 2020) resumed trade on a weak note at 75.71 after showing resilience on Thursday to levels of 74.97 per US dollar. On the last trading day, rupee closed at 75.10 per US dollar.

Rupee Opens Lower On Weak Equity And Firm Dollar

In the bond market, the yield on 10-year benchmark bond opened at 6.13% versus its previous close of 6.10%.

Oil on Monday again traded lower as fresh US-China tension brew up as the US President Trump threatened to levy new tariffs on Chinese goods as a retaliation to the coronavirus infection. The decline comes as economic recovery is expected to take longer amid the new tension and oil glut is seen to persist.

Meanwhile, taking cues from decline in Asian stocks, Indian equity is trading lower.

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