Rupee opens higher against US dollar

Yields on 10-year government bond stood at 7.481% from its previous close of 7.49%. Photo: Mint

Yields on 10-year government bond stood at 7.481% from its previous close of 7.49%. Photo: Mint

Mumbai: The Indian rupee on Tuesday strengthened marginally against US dollar after local equity markets gained for eight consecutive sessions.

At 9.15am, the home currency was trading at 65.43 against US dollar, up 0.10% from its Monday’s close of 65.49. The rupee opened at 65.46 a dollar.

Local markets gained after India Meteorological Department said that it expects a normal monsoon in the country. It also ruled out deficit monsoon.

Benchmark Sensex Index rose 0.37% or 126.61 points to 34,432.04 points. Year to date, its up 0.8%.

Yields on 10-year government bond stood at 7.481% from its previous close of 7.49%. Bond yields and prices move in opposite directions.

So far this year, the rupee has fallen 2.48%, while foreign investors have bought $1.98 billion and $679.40 million in equity and debt markets, respectively.

Asian currencies were trading mixed. South Korean won was up 0.56%, Taiwan dollar 0.06%, Japanese yen 0.06%, Indonesian rupiah 0.05%. However, China offshore was down 0.14%, China renminbi 0.1%, Malaysian ringgit 0.05%, Singapore dollar 0.03%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 89.417, down 0.01% from its previous close of 89.425.

First Published: Tue, Apr 17 2018. 09 23 AM IST

Source: livemint