The Indian rupee fell against US Dollar in the morning trade amid sustained foreign fund outflows and firm crude oil prices. The yield on the 10-year government bond was at 6.538% compared with Thursday's close of 6.511%. Currently, the local unit is trading flat at 69.04/$.
Government bond yields rose in six out of eight trading sessions after media reports said the Prime Minister’s Office (PMO) was opposed to the proposed sovereign bond sale in foreign currencies.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was down 0.03% at 97.785 from its previous close of 97.818.
The rupee ended 6 paise lower on Thursday to close at 69.04 against the US dollar on the back of sustained foreign fund outflows and firm crude oil prices.
On the international front, the ECB held interest rates steady on Thursday, but outgoing President Mario Draghi all but pledged to ease monetary policy further as the growth outlook deteriorates. Further, trade officials from the US and China are scheduled to meet in Shanghai next week.
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