Rupee Opens Tad Higher At 75.61 Per US Dollar

Rupee in Monday's trade (June 29, 2020) opened marginally changed at 75.61 as compared to Friday's close of 75.64. This is despite weakness in equities and strength in the US dollar. Among its Asian peers, rupee was the second best performing currency last week.

Rupee Opens Tad Higher At 75.61 Per US Dollar

In the bond market, the yield on benchmark bonds stood at 5.916%.

Prospects of a rare current-account surplus, following robust foreign inflows and a collapse in global oil prices will aid the currency, according to Barclays and Scotiabank.

Also there are views emanating that the home currency will appreciate to levels of 72 against the dollar by the end of this year.

Meanwhile, Indian equities tracking weak sentiment globally due to rising fresh coronavirus cases was trading with losses, with Nifty down 1.37% at 10239 points.

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