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Rupee opens higher at 71.77 a dollar, bond yields rise

Rupee opens higher at 71.77 a dollar, bond yields rise

Rupee opens higher at 71.77 a dollar, bond yields rise
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By Aastha Agnihotri  Aug 30, 2019 9:13:18 AM IST (Published)

The rupee opened higher against the US dollar on Friday, snapping a 2-day loss, helped by easing global crude oil prices.

The rupee opened higher against the US dollar on Friday, snapping a 2-day loss, helped by easing global crude oil prices.

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At 09:10 AM, the rupee was trading at 71.72 a dollar, up 8 paise from its Thursday’s close of 71.80. The home currency opened at 71.77 and touched a high and a low of 71.71 and 71.79 a dollar, respectively.
In the currency market, the dollar held firm against the yen on renewed concerns over the US-China trade war.
The dollar index rose to as high as 98.554 on Thursday, a top last seen on Aug. 1, and last stood at 98.439.
China’s commerce ministry said on Thursday Beijing and Washington were discussing the next round of face-to-face talks scheduled for September, reported Reuters.
In the commodity markets, oil prices eased on Friday after three days of gains, with concerns about the state of the global economy.
Brent crude was down 10 cents, or 0.2 percent, at $60.98, after adding 1 percent on Thursday.Foreign investors pulled out Rs 986 crore on a net basis from equities on Thursday, provisional exchange data showed.
In debt markets, the yields on the 10-year government bonds were up 0.24 percent at 6.57 percent from the previous close of 6.55 percent. Bond yields and prices move in opposite directions.
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