The Indian currency opened higher in the early morning trade by 12 paise at 71.20 against US Dollar. The yield on the 10-year bond was at 6.587% compared with its previous close of 6.64%.


The yield on the 10-year government bond fell 5 bps after RBI Governor Shaktikanta Das said there was room for further interest rate cuts. Investors are awaiting the 37th meeting of federal indirect tax body, the Goods and Services Tax (GST) Council.


The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.244, down 0.03% from its previous close of 98.272.


Further, oil prices were on track for a more than a 7% jump this week, their biggest in months, as early trading saw gains extended on fresh tensions in the Middle East after a key Saudi Arabian supply hub was knocked out in an attack last weekend.


Meanwhile, the Sensex rose 0.22% to 36,170 and the Nifty also gained 0.12% to 10,718. 


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