Rupee closes higher against US dollar
Mumbai: The Indian rupee closed stronger against the US dollar on Monday, tracking gains in its Asian peers.
The rupee closed at 64.96, up 0.24% from its previous close of 65.11. The home currency opened at 64.96 and touched a high of 64.93 a dollar.
Yields on 10-year government bonds ended at 7.779% compared to Monday’s close of 7.776%. Bond yields and prices move in opposite directions.
India’s benchmark Sensex index fell 1.27% or 429.58 points to closed 33,317.20. So far this year, Sensex has fallen 0.5%.
Year to date, the rupee weakened 1.8%, while foreign investors have bought $172.80 million and $877.50 billion in equity and debt markets, respectively.
Asian currencies were trading higher amid a rebound in risk appetite driven by speculation that US President Donald Trump will soften his proposed trade tariffs.
South Korean won was up 0.61%, Taiwan dollar 0.17%, China renminbi 0.13%, Thai baht 0.13% and Singapore dollar rose 0.05%. However, Japanese yen was down 0.2%, Philippines peso 0.06% and China offshore 0.05%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 89.967, down 0.13% from its previous close of 90.08.
- Indians killed in Iraq: Sushma Swaraj accuses Congress of indulging in ‘cheap politics’
- Sterlite Power acquires Rs1,500 crore Goa-Tamnar project
- Another Periyar statue vandalized in Tamil Nadu
- Mahindra Bolero makes it to top 10 passenger vehicle list in February
- Airbus is said to weigh new A330 cargo model, spurred by Amazon, UPS