The Indian rupee was trading little changed against the US dollar in the opening trade on Monday, while 10-year bond prices rose ahead of the Reserve Bank of India's OMO purchase today.
The rupee opened at Rs 71.13 per dollar, down 1 paise from its previous close of Rs 71.12. Intraday, the rupee hit a high and a low of 71.1212 and 71.1750, respectively.
At 9:20 am, 10-year bonds were trading higher at Rs 99.10 or 6.57 yield.
The local currency fell by 9 paise to settle at 71.12 against the US dollar on Friday amid a steady rise in crude oil prices and strengthening of the greenback overseas.
As part of its operation twist beginning today, the RBI will purchase 10-year government bonds, aggregating to Rs 10,000 crore using the multiple price auction method. Meanwhile, it will sell four G-Secs of the 2020 series.
Crude oil prices were down on Monday morning. Brent crude oil traded 0.23 percent lower at $65.99 per barrel while WTI crude eased 0.25 percent to $60.29 per barrel on Thursday.
Asian markets were mixed in early trade amid greater trade optimism between the U.S. and China after U.S. President Donald Trump on Friday said he had “a very good talk” with China’s leader Xi Jinping about the so-called phase one trade deal they struck in mid-December.
According to data released by the US Commerce Department on Friday, the US GDP rose at 2.1 percent on year in the third quarter.
First Published: IST