Currency

Rupee opens higher against dollar

Updated : January 28, 2020 09:05 AM IST

Asian stocks extended a global selloff as China took more drastic steps to combat a deadly new coronavirus.

Oil futures slipped on Tuesday, extending losses into a sixth session.

The Indian rupee opened Tuesday's session on a higher note against dollar. The domestic currency started at 71.37 per dollar against Monday's close of Rs 71.43.

Asian stocks, meanwhile, extended a global selloff on Tuesday as China took more drastic steps to combat a deadly new coronavirus, while bonds shone on expectations central banks would need to keep stimulus flowing to offset the likely economic drag.

As the death toll reached 106 in China, some health experts questioned whether Beijing can contain the virus which has spread to more than 10 countries, including France, Japan and the United States. No deaths have been reported outside of China so far.

Oil futures slipped, extending losses into a sixth session as the spread of a new virus in China and other countries raised concerns about a hit to economic growth and slower oil demand.

(With inputs from Reuters)

Rupee opens higher against dollar

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