homemarket Newscurrency News

Rupee falls 30 paise to 69.98 a dollar in opening trade, bond yields spike

Rupee falls 30 paise to 69.98 a dollar in opening trade, bond yields spike

Rupee falls 30 paise to 69.98 a dollar in opening trade, bond yields spike
Profile image

By Aastha Agnihotri  Jan 8, 2019 9:13:03 AM IST (Published)

Indian rupee opened weaker against the US dollar on Tuesday following gains in oil prices edged higher as OPEC-led supply cuts tightened markets.

Indian rupee opened weaker against the US dollar on Tuesday following gains in oil prices edged higher as OPEC-led supply cuts tightened markets.

Recommended Articles

View All

At 09:10 AM, the rupee was trading at 69.98 a dollar, down 30 paise from its Monday’s close of 69.68. The home currency opened at 69.84 and touched a high and a low of 69.82 and 69.99 a dollar, respectively.
The rupee pared early gains but managed to end 4 paise higher at 69.68 against the US dollar Monday following dovish stance by the Federal Reserve and rising hopes of a thaw in ongoing US-China trade tiff.
The dollar continued to languish on Tuesday. The dollar index stood near 2-1/2-month lows as investors grew increasingly convinced that the Federal Reserve will not raise interest rates this year amid uncertainties over the U.S. economy.
Oil prices rose on Tuesday on hopes that US-Chinese talks in Beijing would bring a halt to trade disputes between the world's biggest economies.
International Brent crude futures were at $57.77 per barrel at 0113 GMT, up 44 cents, or 0.8 percent from their last close.
In debt markets, the yields on the 10-year government bonds rose 2.54 percent to 7.64 percent from its previous close of 7.45 percent. Bond yields and prices move in opposite directions.
 
Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know. 
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng