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    Rupee opens little changed at 68.99 a dollar, bond yields rise

    Rupee opens little changed at 68.99 a dollar, bond yields rise

    Rupee opens little changed at 68.99 a dollar, bond yields rise
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    By Aastha Agnihotri   IST (Published)

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    The rupee opened little changed against the US dollar on Friday, after falling for three straight sessions, amid caution ahead of the key central bank policies this month.

    The rupee opened little changed against the US dollar on Friday, after falling for three straight sessions, amid caution ahead of the key central bank policies this month.
    At 09:10 AM, the rupee was trading at 68.95 a dollar, up 3 paise from its Wednesday’s close of 68.98. The home currency opened at 68.99 and touched a high and a low of 68.97 and 69.00 a dollar, respectively.
    In the currency market, the dollar hovered near multi-week highs, as investors awaited clues on monetary policy easing from leading central banks to shore up global economy.
    The dollar index was relatively unchanged against a basket of major currencies, after hitting a five-week peak in the previous session.
    Investor focus shifted to the European Central Bank (ECB) meeting due later in the day and a widely expected interest rate cut from the US Federal Reserve next week.
    The ECB is thought likely to at least offer a nod to easier policy while the US central bank is widely expected to lower its interest rate target range of 2.25 percent-2.50 percent by 25 basis points at a meeting ending July 31.
    In commodity markets, oil ticked higher after falling in the previous session as more signs of slowing global growth added to demand concerns.
    Brent crude futures were up 6 cents at $63.24 a barrel by 0053 GMT, after dropping 1 percent overnight, falling for the first time in four sessions.
    Foreign investors remained net sellers in the capital markets, offloading shares worth Rs 2,607.97 crore on Tuesday, provisional exchange data showed.
    In debt markets, the yields on the 10-year government bonds were up 0.09 percent to 6.44 percent from its previous close of 6.43 percent. Bond yields and prices move in opposite directions.
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