Rupee Trades Lower; Bond Yield Decline As Fiscal Deficit Target On Expected Lines

Rupee in Monday's session is trading lower at 71.61 per US dollar.

Rupee Trades Lower; Bond Yield Decline As Fiscal Deficit Target On Expected Lines

Oil prices declined again on lower demand from China for oil amid corona virus breakout. Brent and US West Texas Intermediate crude fell for a fourth subsequent week. Brent crude was at $55.83 per barrel by 6:27 AM IST, down 79 cents, or 1.4 percent, after losing nearly 12 percent in January, the steepest monthly decline since November 2018.

In the bond market, the yield on the 10-year benchmark bonds fell 11 bps to 6.49%.

Meanwhile, Indian markets are set to open sharply lower after Saturday's decline to the tune of 1000 points on the Sensex after Budget 2020 failed to enthuse investors and on growing fears around corona virus which led to a sharp sink on Asian stocks.

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