Rupee Slips To 75 Per Dollar On Equity Weakness

Rupee in Thursday's trade (August 20, 2020) opened sharply lower at 74.98 versus previous day's close of 74.82 per US dollar. And later the home currency hit the day's low of 75.

The yield on 10-year benchmark bond came in at 5.969%. Bond yields are now nearing 6% mark as RBI goes silent on supporting Indian bonds. Previously, bond yield climbed after retail inflation measured by CPI for July month came in more than the RBI's target for the second consecutive month.

Rupee Slips To 75 Per Dollar On Equity Weakness

Oil prices today softened on demand risks if the coronavirus situation prolongs, while US inventories were down less than expected. Brent crude was down 28 cents, or 0.6%, at $45.09 by 0049 GMT.U.S. oil also fell 31 cents, or 0.7%, at $42.62 a barrel.

Meanwhile, Indian indices on the US fed's worries over economic recovery from the slump induced by coronavirus trades lower with Nifty down by 0.67% at 11331 points

GoodReturns.in