Rupee closes little changed against US dollar
Mumbai: The Indian rupee pared all the losses and closed little changed against the US dollar ahead of the Reserve Bank of India’s (RBI) monetary policy minutes due later on Thursday
The rupee closed at 64.56, up 0.03% from its Wednesday’s close of 64.58. The rupee opened at 64.66 a dollar and touched a high and a low of 64.56 and 64.72, respectively. Year to date, it gained 5.2%.
Foreign institutional investors (FIIs) were net sellers for the seventh consecutive session and sold nearly $494.35 million in the local equity markets in this period. So far this year, they have bought $6.44 billion and $7.03 billion from local equity and debt markets, respectively.
The benchmark Sensex index rose 0.29% or 85.82 points to closed at 29,422.39. So far this year, it has risen 10.2%.
The 10-year bond yield closed at 6.877% compared to its previous close of 6.856%. Bond yields and prices move in opposite directions.
Asian currencies were trading lower. Indonesian rupiah was down 0.15%, Philippines peso 0.11%, South Korean won 0.1%, Japanese yen 0.09% and Taiwan dollar 0.04%. However, Thai baht was up 0.1% and Malaysian ringgit 0.04%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.792, up 0.05% from its previous close of 99.74.