Rupee Opens Lower At 74.94 Per US Dollar

Rupee in Friday's trade (July 24, 2020) opens lower at 74.93 versus previous day's close of 74.76 per US dollar. This is even as dollar fell to almost its 2-year low.

Yield on 10-year benchmark government bonds stood at 5.807%.

Oil prices gained on weaker dollar but rising coronavirus cases as well as US-China continues to weigh. Weakness in the greenback pushes buying in commodities that are priced in dollar such as oil. Brent crude rose 15 cents, or 0.4%, to $43.46 a barrel by 0137 GMT, and U.S. West Texas Intermediate (WTI) crude rose by 12 cents, or 0.3%, to $41.19.

Meanwhile, tracking weakness in Asian equities on spiraling US-China tensions, Indian equities open lower.

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