Rupee closes marginally lower at 60.21 per dollar
Since the beginning of this year, the rupee has gained 2.7% against the dollar
Mumbai: The Indian rupee on Monday closed marginally lower from its Friday’s close, after remaining higher against the dollar for most of the day.
The rupee ended at 60.21 a dollar, down 0.03% from its previous close of 60.19. The local currency had opened at 60.11.
According to currency dealers, demand for the dollar spiked towards the end of trading hours even as there was dollar inflow in the market during afternoon trade because of Diageo Plc’s acquisition of a majority stake in United Spirits Ltd.
Asian currencies were also mostly up against the dollar.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.359, down 0.02% from its previous close of 80.372.
Since the beginning of this year, the rupee has gained 2.7% against the dollar, while foreign institutional investors have bought $9.91 billion from local equity markets.
India’s equity benchmark Sensex ended at 25,031.32 points, down 0.3%.
The yield on India’s 10-year benchmark bond ended at 8.78%, compared with its Friday’s close of 8.721%. Bond yields and prices move in opposite directions.
Anup Roy contributed to this story
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