Rupee Opens Weak; Trades At Day's Low Of 74.92 Per US Dollar

Rupee in Monday's trade (August 3, 2020) opens at 74.88 versus previous day's close of 74.81 per US dollar. And hits an early low of 74.92 per US dollar.

The rupee off late has been underperforming its emerging market peers and is relatively weaker even as dollar index is at 2-year low on sluggish US economic outlook. This is because of RBI's intervention which is putting a cap of rupee's upside.

Rupee Opens Weak; Trades At Day's Low Of 74.92 Per US Dollar

Yield on 10-year benchmark government bonds stood at 5.838%.

Oil prices in Monday's trade have edged lower on supply concerns. Brent crude futures slid 26 cents, or 0.6%, to $43.26 a barrel by 0253 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 29 cents, or 0.7%, at $39.98 a barrel.

Meanwhile, Indian equities are trading lower for the third fourth consecutive session, with Sensex falling 300 points in early trade and Nifty lower at barely 11000 levels.

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