The Indian rupee extends losing streak in opening trades on Tuesday, weighed down by elevated crude oil prices and persistent demand for greenback. INR opened at Rs 95.68 per dollar and recovered slightly to a high of 95.65 so far during the day. Brent crude near USD 91 per barrel increased oil-related dollar demand and the Reserve Bank’s earlier-than-expected closure of the concessional FCN (B) forex-swap facility raised concerns over future dollar inflows. Local equities also opened lower on Tuesday as global bond yields surged on concerns that renewed energy inflation could keep interest rates elevated. The benchmark BSE Sensex was down 310 points, or 0.4 percent, at 77,417 in early trade, while the NSE Nifty index dipped 65 points, or 0.3 percent, to 24,221.
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