Rupee Opens Lower At 76.74; Bond Yield Lower As RBI Increases WMA Limit

Rupee in Tuesday's trade (April 21, 2020) opened at 76.74, down 21 paise as against previous closing of 76.53 per US dollar.

In the bond market, the yield on 10-year benchmark bond declined from 6.20% in the previous quarter.

Rupee Opens Lower At 76.74; Bond Yield Lower As RBI Increases WMA Limit

This may be spurred by the WMA increase by the RBI. WMA is the amount lend by the RBI to the central government, this step will mar the government to borrow from the markets and support the bond markets.

In the oil market, the US WTI contract have recovered on Tuesday after declining to a negative zone as there were no buyers for the commodity and in fact traders were paying buyers.

Also, tracking global cues, Indian markets are trading weak.

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