Rupee closes stronger against US dollar ahead of Fed minutes
Mumbai: Indian rupee closed higher for the third session against the US dollar ahead of the US fed minutes due later on Wednesday.
The home currency closed at 65.14 against the dollar, up 0.19% from its Tuesday’s close of 65.29. The rupee opened at 65.24 a dollar and touched a high and a low of 65.15 and 65.32, respectively.
Traders are also awaiting Index of Industrial Production and Consumer Price Index-based inflation data for August and September, respectively, on 12 October.
The BSE benchmark index fell 0.28%, or 90.42 points, to closed at 31,833.99. So far this year, the Sensex has gained over 20%.
The 10-year bond yield closed at 6.739%, compared to its previous close of 6.741%. Bond yields and prices move in opposite directions.
So far this year, the rupee has gained 4%, while foreign institutional investors have bought $5.04 billion and $21.24 billion in equity and debt, respectively.
Asian currencies were trading mixed. Taiwan dollar was up 0.29%, Thai baht 0.14%, Japanese yen 0.13%, Philippines peso 0.03%. However, China renminbi was down 0.3%, China offshore 0.28%, Indonesian rupiah 0.13%, Malaysian ringgit 0.07%, Singapore dollar 0.07%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.315, up 0.03% from its previous close of 93.29.
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