Rupee edges higher against US dollar
At 3.22pm, the rupee was trading at 74.19 a dollar, up 0.26% from its Tuesday’s close of 74.39.
Mumbai: The Indian rupee on Wednesday strengthened marginally against the US dollar, tracking gains in Asian peers. At 3.22pm, the rupee was trading at 74.19 a dollar, up 0.26% from its Tuesday’s close of 74.39. The currency opened at 74.13 a dollar. The 10-year gilt yield stood at 8.049%, up from its previous close of 8.076%. Bond yields and prices move in opposite directions.
The benchmark Sensex rose 0.40% to 34,437.11 points. Year to date, it has gained 1%.
So far this year, the rupee has declined 14%, while foreign investors have sold $3.58 billion and $7.55 billion in the equity and debt markets, respectively.
Asian currencies were trading higher. Thai Baht was up 0.23%, Singapore dollar 0.18%, South Korean won 0.14%, Malaysian ringgit 0.12%, Indonesian rupiah 0.08%, China Renminbi and Taiwan dollar were up 0.05% each.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.578, down 0.1% from its previous close of 95.668.
- Banks turned wary of NBFCs months before IL&FS defaults
- HUL Q2: Rising input costs face off against healthy demand growth
- Q2 results: DMart finally set to face a reality check
- Temporary staffing: Decent employee additions, margin pressures may sustain
- Gujarat relief for Tata Power, Adani Power underlines sector’s harsh reality