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Rupee Opens Higher At 75.52 Per US Dollar

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Rupee on March 31, 2020 opened higher at 75.52, up 13 paise against its previous close of 75.65 per US dollar.

In the previous session, rupee settled lower by 70 paise on the back of heavy selling in the domestic equities as well as concerns over economic slowdown due to the coronavirus pandemic.

Oil on Tuesday recovered some losses after US President Donald Trump as well as his Russian counterpart Putin agreed to work on measures for stabilizing oil markets.

Rupee Opens Higher At 75.52 Per US Dollar
 

Nonetheless, prices hovered near 18-year lows as demand takes a hit in the wake of coronavirus pandemic. Brent crude gained 19 cents or 0.8% to 22.95 per barrel by 0051 GMT, with previous close at $22.76, the lowest close since November 2002.

The yield on the 10-year benchmark bonds came in at .6.11%.

In the pre-opening, benchmark indices in line with SGX Nifty opened with gains, Sensex was up 800 points while Nifty went above 8500 points.

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