The rupee opened 8 paise higher at 68.05 against dollar on Friday on account of selling of American currency by banks and exporters. Overall market sentiments are looking cautious ahead of the US President-elect Donald Trump’s swearing-in ceremony later in the day.
Meanwhile domestic equity markets opened in the red following weak global cues. The 30-share Sensex opened 75.91 points down at 27,232.69, while the 50-share Nifty index opened 30.75 points, or 0.36 per cent, down at8,404.35.
Market participants gauged dovish comments and preferred profit booking ahead of Friday’s US presidential inauguration speech,” the brokerage house said.
The local currency closed nearly 5 paise down at 68.13 against dollar on Thursday.
According to ICICI, the rupee ended lower on Thursday as markets participants remain wary ahead of the new US President’s inauguration speech. “Although the US dollar ended slightly higher, it pared intra-day gains on US Federal Reserve’s chair comments that US Fed interest rate hike is not behind the curve.
Government bonds ended lower on Thursday as rising yields weighed on demand ahead of the US presidential speech today. The benchmark 6.97% 2026 bond yield rose to 6.48 per cent from 6.45 per cent on Wednesday.