Rupee Trades Lower At 71.31 Per US Dollar

Indian rupee opened on Thursday lower at 71.25 as against previous close of 71.23 per US dollar.

Rupee Trades Lower At 71.31 Per US Dollar

On the first day of CY 2020, the rupee closed with gains as current account deficit for the quarter ended September narrowed as trade gap lowered and also due to increase in revenue from remittances and exports of services. On Tuesday, the RBI said the shortfall was to the tune of $6.3 billion or 0.9% of GDP.

Oil on Thursday climbed as optimism surfaced on US-China deal as US President on Tuesday said Phase one deal will be inked on January 15. Also, escalation in Middle East tensions raised concerns around its supply.

Global benchmark Brent crude futures, were up 21 cents, or 0.3%, to 66.21 a barrel by 0130 GMT.

In the bond market, yield on 10-year benchmark government bonds stood at 6.49%.

Meanwhile, benchmark indices were trading with gains with Nifty trading higher by 46 points or 0.38% at 12229.20, while Sensex was up as much as 150 points at 41,459.11.

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