Rupee opened with minor gains Monday against the US dollar after amid weakness in the greenback against some currencies overseas and a higher opening of domestic equities. The domestic currency opened at 71.85 a dollar against Friday’s close of 71.90. On Friday, the rupee plunged by 22 paise against the US dollar to end the day at 71.90.
“Forex market is likely to remain volatile ahead of U.S, U.K and Japan meet for the monetary policy scheduled next week”, said VK Sharma, Head PCG & Capital Markets Strategy, HDFC Securities.
The 10-year government bond yield stood at 7.438 per cent from its previous close of 7.441 per cent.
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Globally, Brent crude, the international benchmark, was trading 0.13 per cent down at $60.36 per barrel.
On net basis, foreign funds bought shares worth Rs 861.94 crore, while DIIs sold share to the tune of Rs 303.52 crore Friday, provisional data showed.
Meanwhile, the domestic headline indices– Sensex and Nifty– opened in the green on Monday despite weak macro cues. Sensex rallied 256 points in the opening trade to 36,219.52, while the Nifty 50 was trading firmly above the 10,850-level. VEDL share price gained by more than 5% on Monday morning after NGT allowed the firm to resume operations in the Toothukudi copper smelter plant.