Rupee closes stronger against US dollar
The rupee ended at 71.74 a dollar, up 0.35% from its Thursday’s close of 71.99. It opened at 71.92 per dollar and touched a low of 72.04 and a high of 71.66
Mumbai: The Indian rupee along with Asian currencies on Friday strengthened against the US dollar as traders await US non-farm payrolls data and to see the US will go ahead with more tariffs on Chinese imports. The rupee ended at 71.74 a dollar, up 0.35% from its Thursday’s close of 71.99. It opened at 71.92 per dollar and touched a low of 72.04 and a high of 71.66.
The 10-year bond yield closed at 8.029%, from its previous close of 8.056%. Bond yields and prices move in opposite directions.
So far this year, the rupee has weakened 11%, while foreign investors have sold $305.10 million and $6.15 billion in equity and debt markets, respectively.
Benchmark Sensex Index rose 0.38% or 147.01 points to 38,389.82. Since January, it has gained 12.29%.
Asian currencies were trading higher. Indonesian rupiah was up 0.5%, Philippines peso 0.27%, South Korean won 0.09%, Taiwan dollar 0.07%. However, China renminbi was down 0.11% and Japanese yen 0.08%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.97, down 0.05% from its previous close of 95.021.
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