Rupee opens higher at 69.78 per US dollar 10-year bond yield falls to 7.37%
The rupee rose 40 paise to finish at an over one-week high of 69.95 per US dollar on strong dollar buying by exporters and banks amid weakness of US currency overseas.
After appreciating about 40 paise on Friday to close the day 69.93 against the US currency, the rupee gained further strength and opened 15 paise at 69.78 per US dollar from the previous close. On the other hand, in bond markets, the 10-year government yield started at 7.37% against a previous close of 7.39%.
On Friday, the domestic currency rose 40 paise to finish at an over one-week high of 69.95 per US dollar on strong dollar buying by banks and exporters amid the US currency’s weakness overseas.’
The domestic currency was trading at 69.82 per US dollar, after touching an intraday high of 69.74 per US dollar and an intraday low of 69.83 per US dollar, about 11 paise higher from the previous close, according to data available with the Bloomberg.
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Meanwhile, the domestic stock markets– Sensex and Nifty –opened higher tracking positive global cues from Asian markets. The 30-share Sensex rallied by more than 182 points to 36,285.46 in the opening trade while the Nifty 50 is trading above the 10,850 marks.
Kotak Mahindra Bank shares marginally slumped about 0.5% to Rs 1,237.20, as December 31st is the last day according to RBI for Uday Kotak to cut his holding in the bank. Jewellery-maker Titan shares gained by more than 4% to hit the day’s high at Rs 925.75.
Also, crude oil prices rose on the last trading day of the year on Monday, taking a cue from firmer stock markets, but remain on track for the first yearly decline in three years amid concerns of a supply glut.
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