Rupee closes stronger against US dollar
Mumbai: The Indian rupee on Tuesday closed stronger on sales of the US currency by private banks and tracking the dollars weakness against the Asian Currencies overseas.
The rupee closed at 63.64 a dollar, up 0.28% from its Monday’s close of 63.81. The rupee opened at 63.76 a dollar and touched a high and a low of 63.62 and 63.80 respectively.
“Two large private banks were reported selling dollars for their customers,” Bloomberg report said.
The benchmark Sensex index fell 0.8% or 259.48 points to closed at 32,014.19. So far this year, it has risen over 21%.
The 10-year bond yield closed at 6.457%, compared to its previous close of 6.458%. Bond yields and prices move in opposite directions.
So far this year, the rupee gained 6.6% while foreign institutional investors (FIIs) bought $8.71 billion and $18.49 billion in equity and debt markets, respectively.
Asian currencies were trading higher as dollar weakened. China offshore was up 0.29%, China renminbi 0.27%, Philippines peso 0.23%, Japanese yen 0.13%, Singapore dollar 0.13% and Thai baht 0.07%. However, Hong Kong dollar was down 0.05%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.305, down 0.15% from its previous close of 93.432.