Rupee Trades Tad Higher At 71.23

In Thursday's trade rupee opened unchanged at 71.27 per US dollar and at around 9:14 am the home currency was trading tad higher at 71.23.

Rupee Trades Tad Higher At 71.23

On Tuesday, the domestic unit lost as much as 0.11% as against Monday's close of 71.19 to close lower at 71.27. The losses were primarily triggered as traders weighed government's fiscal condition as a Bloomberg report suggested that the country's divestment target will fall short off by a huge margin.

Oil prices today surged as a potential deal between the US and China as well as OPEC's efforts towards curbing supply supported the commodity. The rise in oil price came even as trading remained thin as many markets were shut.

In the bond market, RBI's OMO via the "operation twist" helped the bond yields calm down a bit which surged sharply after the apex bank's bi-monthly monetary policy meet on December 5. Yield on 10-year benchmark bond stood at 6.59%.

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