Rupee Trades Higher At 71.21 Per Dollar

The Indian rupee on February 12 opens higher at 71.23 per dollar versus previous close of 71.28. At 9:46 am, the home currency traded at 71.25 against the hatchback.

Rupee Trades Higher At 71.21 Per Dollar

On Wednesday, oil prices continued their surge for the second-straight day as fresh coronavirus cases are being reported at a slower rate in China, moderating concerns relating to its impact on oil demand from China, which is the second largest consumer globally. Brent crude was up 1.3 percent at $54.75/ barrel at 0137 GMT. U.S. West Texas Intermediate (WTI) also climbed higher by 0.9 percent to $50.39.

In the bond market, 10-year benchmark bonds stood at 6.48%.

Since July last year, rupee was depreciated by as much as 3% due to a series of measures by the RBI.

Meanwhile, the benchmark indices are trading with gains, with Sensex gaining 365 points while Nifty tops 12207 mark.

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