The rupee opened lower against the greenback on Thursday, as a stronger US dollar weighed on the domestic unit.
At 09:10 AM, the
rupee was trading at 69.02 a dollar, down 14 paise from its Wednesday’s close of 68.88. The home currency opened at 69.10 and touched a high and a low of 69.01 and 69.11 a dollar, respectively.
The Indian currency has been riding high on massive liquidity push in the form of strong foreign fund inflows in March. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,481.11 crore Wednesday, as per provisional data.
Globally, the dollar, perceived as a safe-haven asset during the crisis, edged higher. The US dollar firmed against a basket of its competitors at 96.909.
In commodity markets, oil prices edged lower after an industry report showed an unexpected rise in US crude inventories.
International Brent crude oil futures were at $67.63 a barrel at 0045 GMT, down 20 cents, or 0.3 percent, from their last close. Brent closed down 0.2 percent on Wednesday.
In debt markets, the
yields on the 10-year government bonds were down 0.12 percent to 7.32 percent from its previous close of 7.33 percent. Bond yields and prices move in opposite directions.
