Rupee Opens At 74.93 Per US Dollar On Hopes From RBI MPC, Equity Gains

Rupee in Wednesday's trade (August 5, 2020) opened strong at 74.93 versus previous day's close of 75.04 per US dollar. This is given the bullish momentum in equities and hopes of measures from the RBI due to release its MPC outcome tomorrow, where the street is divided over the rate cut. But measure on loan restructuring is likely to be announced.

Rupee Opens At 74.93 Per US Dollar On Hopes From RBI MPC, Equity Gains

The yield on 10-year benchmark bond stood at 5.773%

At the time of writing this report India corona tally is close to 1.9 million with improvement in fatality rate.
Meanwhile, Indian equities in line with global equities started on a strong footing with Nifty close to 11200 mark.

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