Rupee closes marginally higher against US dollar
Mumbai: The Indian rupee on Tuesday closed marginally higher against the US dollar, ahead of the key macro economic data.
The rupee closed at 64.50, up 0.09% from its Monday’s close of 64.56. The rupee opened at 64.65 a dollar and touched a high and a low of 64.43 and 64.69, respectively.
The benchmark Sensex index rose 0.72% or 212.61 points to closed at 29788.35. So far this year, it has risen 12%.
The government will issue Index of Industrial Production (IIP) and Consumer Price Index-based (CPI) inflation for February and March, respectively, on Wednesday after 5.30pm. According to a Bloomberg poll, CPI will be at 3.96% in March from 3.65% a month ago, while IIP will be at 1.3% for February from 2.7% a month ago.
So far this year, the rupee has gained 5.3%, while foreign institutional investors have bought $6.91 billion and $6.19 billion from local equity and debt markets, respectively.
The 10-year bond yield closed at 6.81% compared to its previous close of 6.865%. Bond yields and prices move in opposite directions.
Asian currencies were trading lower. South Korean won was down 0.59%, Philippines peso 0.18%, Singapore dollar 0.14%, Taiwan dollar 0.12% and China offshore 0.04%. However, Japanese yen was up 0.3%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.04, up 0.02% from its previous close of 101.02.