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Rupee Opens Lower At 74.94 Per US Dollar

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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%.

Rupee Opens Lower At 74.94 Per US Dollar
 

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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