Rupee closes stronger against US dollar
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Mumbai: Indian Rupee on Friday closed stronger against the US dollar tracking gains in the Asian currencies markets.
The rupee opened at 64.75 and touched a high and a low of 64.60 and 65.03 respectively. It closed at 64.64 a dollar, up 0.32% from its previous close of 64.85.
The benchmark Sensex index rose 0.1% or 30.13 points to closed at 30,464.92. So far this year, it has risen 13%.
The goods and services tax (GST) Council on Thursday backed the 1 July deadline for rolling out the unified indirect tax that will help create a single national market, and ensured that items of mass consumption bear the least tax burden.
So far this year, the rupee has gained 5.8%, while foreign investors bought $7.12 billion and $9.47 billion in local equity and debt markets, respectively.
The 10-year bond yield closed at 6.71% compared to its previous close of 6.677%. Bond yields and prices move in opposite directions.
Asian currencies were trading higher. Thai Baht was up 0.34%, Singapore dollar 0.25%, Indonesian rupiah 0.23%, Malaysian ringgit 0.15%, Taiwan dollar 0.13%, Philippines peso 0.09%. However, South Korean won was down 0.21%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.433, down 0.46% from its previous close of 97.879.