Indian rupee opens slightly higher; US yields, equity flows eyed

MUMBAI: The Indian rupee opened marginally higher to the dollar on Tuesday despite rising Treasury yields and weak risk appetite.

The rupee was trading at 79.8450 per dollar by 0335 GMT, compared with 79.8675 in the previous session.

Indian rupee at 4-week low

**10-year Treasury yield on Monday climbed to 3.04%, highest in a month. Yield now up almost 35 basis points from lows reached after US inflation data.

**Odds of 75 basis points rate hike by US Federal Reserve reach 55%.

**Impact on economic growth from policy tightening by central banks sap risk appetite.

**Asian shares fall after US equities on Monday suffered worst decline in two months. **Indian shares down 2.5% over last two sessions.

**Foreign investors net sellers of Indian equities on Monday, according to preliminary BSE data.