Extending gains for the seventh consecutive session, the Indian currency opened at opened at 71.14 per US dollar. This is the longest winning streak since February 2017 against the greenback after falling crude oil prices reduced fears of fiscal slippage and higher inflation.
The rupee opened 32 paise higher following selling in the greenback by exporters and softening crude oil prices.
The 10-year government bond yields fell 0.41% to 7.76% after closing at 7.79% on Tuesday.
The money market was closed on Wednesday on account of Id-E-Milad.
Currently, the local unit trading is higher by 27 paise at 71.18/$.
RBI's reference rate for the dollar, meanwhile, stood at Rs71.32, while for the euro it was at Rs81.68. Further, its reference rate for the yen stood at Rs63.40, while that for the British pound sterling it was at Rs91.71.
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