Rupee Trades Lower At 71.38

Rupee as against Wednesday's close of 71.24 is trading lower at 71.38 per US dollar. The currency started Thursday's session at 71.41.

Oil prices were down today as the death toll from the new virus in China mounts to 170. At the same time, US crude inventories rose which also led to negative sentiment.Brent was down 24 cents, or 0.4%, to $59.57 a barrel by 0152 GMT, having risen 0.5% on Wednesday. US crude was down 26 cents, or 0.5%, to $53.07 a barrel.

In the bond market, yield on 10-year government bonds stood atUS Fed rate on Wednesday held interest rate steady and also did not provided any guidance for future course.

Meanwhile, in the pre-opening session Sensex and Nifty are trading with a positive bias.

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