Rupee Opens Steady At 76.20 Per US Dollar

Rupee in Monday's trade (June 22, 2020) opened flat at 76.20 versus its previous close at 76.19 per US dollar. Amid China-India clash and rising coronavirus cases which is a threat to economic recovery, there could be a devaluation in the currency to levels of 77 per US dollar.

In the bond market, the yield on benchmark bonds stood at 5.851%.

Oil prices on Monday soared as there is seen commitment in supply cuts even when demand recovery is still frightened at. Brent crude rose 9 cents, or 0.2%, to $42.28 a barrel by 0009 GMT, while U.S. crude was at $39.76 a barrel, up 1 cent.

Indian indices tracking strong global cues and Covid 19 drug launch by Cipla lifted market sentiment with Sensex rising higher by 300 points at above 35000 while Nifty is above 10320 points

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