The Indian rupee opened lower against the US Dollar on Friday tracking weakness in global equity markets. The 10-year gilt yield stood at 7.853% from its previous close of 7.872%.
Gold prices were trading steady in the morning session as a rally set by geopolitical tensions was offset by a recovery in US equities. Further, a mixed set of economic data from the US also kept bullion prices steady.
Crude oil prices were trading in the red on Friday with US West Texas Intermediate crude futures and Brent crude futures trading 1%, 0.6% down, respectively. This is due to oversupply in the global market.
On Thursday, the local currency depreciated by 11 paise to close at 73.27/$ due to steady capital outflows and a sharp decline in domestic equities amid intensifying geopolitical tensions.
The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs73.27, while for the Euro, it was at Rs83.64. The RBI’s reference rate for the Yen stood at Rs65.33; the reference rate for Great Britain Pound (GBP) was Rs94.61.
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