Rupee vs US dollar: After rallying by a hefty 92 paise in the last three straight trading sessions, the Indian rupee opened 20 paise lower on Wednesday against the US dollar to 69.63/$. In debt markets, the 10-year government bonds yields declined 0.20% to 7.40% from its previous close of 7.42%. Bond yields and prices move in opposite directions.
At 9:35, the domestic currency was trading at 69.64 per US dollar, down 20 paise against the greenback, after touching an intraday high of 69.55 per US dollar and an intraday low 69.67 per US dollar, according to data available with the Bloomberg website.
It may be noted that the domestic unit started the new year 2019 on a positive note as it built up gains of the earlier two sessions and added another 34 paise on Tuesday to close the day at 69.43 per US dollar, which has been under pressure in the recent past.
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The benchmark equity indices – Sensex and Nifty – opened on a lower note today even as the domestic markets rallied on Tuesday. The S&P BSE Sensex Index declined 0.6% intraday to 36,035.78 and the NSE Nifty 50 Index fell 0.38 percent to trade near 10,850. IT stocks — Tech Mahindra (1.13%) and Wipro (1.09%) — are the major gainers today. Eicher Motors leads the index losers list with a loss of 5.63%.
Crude oil prices
Crude oil reversed early gains on Wednesday to decline, on account of rising US crude oil output as well as concerns of an economic slowdown in 2019. Brent crude futures – the international benchmark for oil prices – fell 15 cents or 0.3% to $53.65 per barrel at 0218 GMT from their final close of 2018. WTI spot crude oil futures declined 9 cents or 0.1% to $45.34 per barrel.