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    Rupee jumps 43 paise to 69.34 a dollar on New Year's Day

    Rupee jumps 43 paise to 69.34 a dollar on New Year's Day

    Rupee jumps 43 paise to 69.34 a dollar on New Year's Day
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    By Aastha Agnihotri   IST (Published)

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    Indian rupee opened higher against the greenback on Tuesday, as increased global risk appetite weighed on demand for safe haven currencies.

    Indian rupee opened higher against the greenback on Tuesday, as increased global risk appetite weighed on demand for safe haven currencies.
    At 09:10 AM, the rupee was trading at 69.34 a dollar, up 43 paise from its Monday’s close of 69.77. The home currency opened at 69.72 and touched a high and a low of 69.64 and 69.72 a dollar, respectively.
    The Indian rupee on Monday signed off the last trading session of 2018 with 18 paise gains at 69.77 per dollar but clocked a 9.23 percent fall during the year after witnessing one of the tumultuous years in the recent past.
    Trading was very subdued as most of the global markets were closed for New Year holiday.
    The dollar index, which tracks the greenback versus six peers, was down 0.22 percent on Monday.
    Meanwhile, oil prices posted their first annual drop in three years as fears of a slowing global economy and emerging supply glut outweighed impending production cuts from OPEC nations.
    For the year, US crude has lost almost 25 percent, while Brent is off by nearly 20 percent, as per Reuters data.
    Foreign funds pulled out Rs 326.87 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 321.98 crore Monday, provisional data showed.
    In debt markets, the yields on the 10-year government bonds rose 0.22 percent to 7.38 percent from its previous close of 7.37 percent. Bond yields and prices move in opposite directions.
     
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