Rupee Opens Strong At 70.75

The Indian rupee strengthened in trade on Monday to 70.75 per dollar in comparison to Friday's close of 70.81.

Rupee Opens Strong At 70.75

On Friday, weighed by the phase one trade deal between the two largest global economies, oil spurted in trade and consequently all of the intra-day gains made in the rupee were shed and the currency ended flat at 70.81.

On December 16, oil fell in trade but continued to be near 3-month high levels as the initial trade deal between the US and China is said to propel demand for oil, while boosting trade flows.

In the bond market, the yield on 10-year benchmark bonds came in at 6.766% which is at near 5-month high due to rising inflation.

Meanwhile, Indian indices opened with gains for the fourth consecutive session, with Sensex hitting fresh high of 41,185.03, up 0.43% and the Nifty 50 rose as much as 0.4% to 12,134.65.

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