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Rupee gains 21 paise in early trade to 70.96 per US dollar; 10-year govt bond yields up

Rupee vs US dollar:  The Indian rupee today opened at 70.96 per US dollar, up 21 paise from the previous close, data available with the Bloomberg website showed.


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Rupee vs US dollar: The Indian rupee gained as much as 21 paise in the early morning trade on Monday to 70.96 per US dollar from the previous close of 71.17 per US dollar. The domestic currency today opened at 70.96 per US dollar, up 21 paise from the previous close, data available with the Bloomberg website showed.

At 9:30 AM (IST), the domestic currency was trading at 71.07 per US dollar, up 9 paise from the previous close of 71.17 per US dollar, after touching an intraday low of 71.08 per US dollar and an intraday high of 70.96 per US dollar, data showed. On Friday, the rupee fell by 10 paise to close at 71.17 amid rising demand for the US currency from exporters and heavy selling in domestic equities.
In debt markets, the yields on the 10-year government bonds rose by 0.3% to 7.33% from its previous close of 7.31%. Bond yields and prices move in opposite directions.
Meanwhile, the domestic stock markets –Sensex and Nifty– opened mildly lower on Monday, tracking mixed global cues, but soon turned positive. The Sensex is up about 40 points to 36,064.74, while the Nifty is trading above the 10,750-mark.
Crude oil prices dropped today on the hopes of an increase in crude production after U.S. energy firms added rigs for the first time this year. While US spot crude oil futures were at $53.37 per barrel at 0027 GMT, down 32 cents, or 0.6%, from their last settlement, International Brent crude oil futures were at $61.37 a barrel, down 27 cents, or 0.4%, Reuters reported.
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