Rupee closes marginally stronger against US dollar
Mumbai: The rupee on Thursday strengthened marginally against the US dollar, tracking gains in the Asian currencies markets.
The rupee closed at 64.05 a dollar, up 0.09% from its Wednesday’s close of 64.11. The rupee opened at 64.03 a dollar and touched a high and a low of 63.98 and 64.06, respectively.
Asian currencies were trading higher as dollar weakened as North Korea tensions and the increasingly cloudy Fed outlook outweighed positive sentiment from the US debt ceiling extension.
Malaysian ringgit was up 0.66%, South Korean won 0.53%, China Offshore 0.49%, China renminbi 0.39%, Philippines peso 0.32%, Singapore dollar 0.25%, Japanese yen 0.22%, Taiwan dollar 0.21%, Indonesian rupiah 0.19%, Thai Baht 0.18%.
The 10-year bond yield ended at 6.515% compared to its previous close of 6.507%. Bond yields and prices move in opposite directions.
The benchmark Sensex index rose 0.01% or 0.77 points to closed at 31,662.74. So far this year, it has risen over 19%. So far this year, the rupee has gained 5.8%, while foreign institutional investors bought $6.88 billion and $19.95 billion in equity and debt markets, respectively.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.80, down 0.53% from its previous close of 92.29.