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Rupee opens tad lower at 70.95 a dollar, bond yields fall

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The rupee opened marginally lower against the greenback on Tuesday, as a higher US dollar pressured the local currency.

Rupee opens tad lower at 70.95 a dollar, bond yields fall
The rupee opened marginally lower against the greenback on Tuesday, as a higher US dollar pressured the local currency.
At 09:10 AM, the rupee was trading at 70.91 a dollar, up 1 paise from its Friday’s close of 70.92. The home currency opened at 70.95 and touched a high and a low of 70.91 and 70.97 a dollar, respectively.
Indian financial and money markets were shut on Monday for a public holiday.
Globally, the dollar held near a two-week high against its key rivals, underpinned by a resilient economy and a flagging euro.
The dollar index versus a group of six major currencies was at 96.668 after going as high as 96.816 the previous day, its strongest since Feb. 19.
In commodity markets, oil prices fell as markets eyed only modest prospects for growth in fuel demand, although OPEC-led efforts to cut output still offered some support, reported Reuters.
Brent crude futures were at $65.36 per barrel, down 31 cents, or 0.5 percent.
Meanwhile, foreign investors (FIIs) remained net buyers in the capital markets, putting in Rs 198.38 crore on a net basis Friday, as per provisional data.
In debt markets, the yields on the 10-year government bonds down 0.43 percent to 7.38 percent from its previous close of 7.41 percent. Bond yields and prices move in opposite directions.
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