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This article is more than 2 year old.

Rupee edges higher in opening trade on easing oil prices

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Indian rupee opened a tad higher on Monday, helped by muted US dollar and easing global crude oil prices.

Rupee edges higher in opening trade on easing oil prices
Indian rupee opened a tad higher on Monday, helped by muted US dollar and easing global crude oil prices.
At 09:10 AM, the rupee was trading at 70.08 a dollar, up 10 paise from its Friday’s close of 70.18. The home currency opened at 70.16 and touched a high and a low of 70.07 and 70.20 a dollar, respectively.
The domestic currency declined on Friday after four straight session of gains, during which rupee rallied by a hefty 220 paise.
The dollar managed to hold up despite troubles of its own, including a partial US government shutdown.
The dollar index a gauge of its value versus six major peers, held steady at 96.90, having risen 1 percent last week as investors shunned riskier assets.
Oil prices dipped on Monday ahead of the Christmas holiday break, adding to last week's steep losses on concerns about a global oversupply.
International benchmark Brent crude futures fell 27 cents, or 0.5 percent, to $53.55 a barrel at 0106 GMT. Brent touched $52.79 on Friday, its lowest since September 2017.
In debt markets, the yields on the 10-year government bonds rose 0.11 percent to 7.29 percent from its previous close of 7.28. Bond yields and prices move in opposite directions.
 
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