Rupee falls 20 paise to 70.23 per US dollar in early trade; 10-year govt bond yields rise

By: | Updated: January 18, 2019 9:50 AM

Rupee vs US dollar: The Indian rupee today opened 71.07 per US dollar, down 4 paise from the previous close of 71.03 per US dollar, data available with the Bloomberg website showed.

On Thursday, the domestic unit reversed its four-day losing streak by recovering 21 paise to close the day at 71.03 per US dollar. (File)

Rupee vs US dollar: The Indian rupee fell as much as 20 paise in the early morning trade on Friday to 71.23 per US dollar from the previous close of 71.03 per US dollar, mainly on account of strong US currency and rise in crude oil prices. The domestic currency today opened 71.07 per US dollar, down 4 paise from the previous close of 71.03 per US dollar, data available with the Bloomberg website showed.

At 9:35 AM (IST), the domestic currency was trading at 71.20 per US dollar, down 17 paise from the previous close of 71.03 per US dollar, after touching an intraday low of 71.23 per US dollar and an intraday high of 71.07 per US dollar, data showed. On Thursday, the domestic unit reversed its four-day losing streak by recovering 21 paise to close the day at 71.03 per US dollar.

In the debt markets, the 10-year government bond yields were up 0.05% at 7.28% compared with Wednesday’s close of 7.27%. Bond yields and prices move in opposite directions.

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Meanwhile, the domestic stock markets –Sensex and Nifty–opened higher on Friday, tracking positive global cues. Sensex is up about 51 points to 36,425.16, while the Nifty is trading above the 10,900-mark.

Asian stocks advanced on Friday as a report of progress in U.S.-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment.

Crude oil prices

Crude oil prices surge on Friday after a report from the OPEC showed its production declined sharply last month, easing fears about prolonged oversupply. US West Texas Intermediate (WTI) crude futures were at $52.57 per barrel at 0253 GMT, up 50 cents, or 1 percent, from their last close. International Brent crude oil futures were up 45 cents, or 0.7%, at $61.63 per barrel, Reuters reported.

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