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Rupee opens tad higher after 3-day fall

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The rupee opened marginally higher against the greenback on Tuesday after falling for three straight sessions amid sluggish US dollar.

Rupee opens tad higher after 3-day fall
The rupee opened marginally higher against the greenback on Tuesday after falling for three straight sessions amid sluggish US dollar.
At 09:10 AM, the rupee was trading at 69.64 a dollar, up 3 paise from its Monday’s close of 69.67. The home currency opened at 69.58 and touched a high and a low of 69.58 and 69.65 a dollar, respectively.
Monday was the third straight session of loss for the domestic unit, during which it has lost 126 paise.
Globally, the dollar sagged on Tuesday after weak US economic data raised concerns over the growth prospects of the world’s biggest economy.
The dollar index against a basket of six major currencies stood little changed at 97.083 after losing 0.35 percent the previous day, marking its biggest daily decline since March 20.
In commodity markets, oil prices slipped away from 5-month highs reached earlier in the session on the back of a sluggish economic outlook.
International benchmark Brent futures touched their strongest level since last November at $71.34 per barrel on Tuesday, before losing ground to $70.96 per barrel by 0158 GMT, down 14 cents, or 0.2 percent, from their last close.
Meanwhile, foreign investors (FIIs) remained net buyers in the capital markets, putting in Rs 329.60 crore on a net basis Monday, as per provisional data.
In debt markets, the yields on the 10-year government bonds were up 0.20 percent to 7.42 percent from its previous close of 7.40 percent. Bond yields and prices move in opposite directions.
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