Rupee closes marginally stronger against US dollar on Asian cues
The rupee closed at 68.10 per US dollar, up 0.21% from its previous close of 68.24
Mumbai: The Indian rupee on Thursday strengthened against the US dollar tracking the gains in the domestic equity and Asian currencies markets.
The rupee closed at 68.10 per US dollar, up 0.21% from its previous close of 68.24. The home currency opened at 68.23 against the US dollar and touched a high and a low of 68.04 and 68.23 respectively. So far this year, it has fallen 2.8%.
India’s benchmark Sensex index closed at 26,366.15 points, up 0.59% or 155.47 points from its previous close. So far this year, it has up 0.8%
Asian currencies were trading higher as a gauge of the dollar’s strength dropped for the first time this week.
Japanese yen was up 0.67%, Thai Baht 0.31%, South Korean won 0.18%, Philippines peso 0.14%, China renminbi 0.13%, Taiwan dollar 0.11%, Singapore dollar 0.1%. However, Indonesian rupiah was down 0.08%, China Offshore 0.06%.
The 10-year bond yield closed at 6.523%, compared to Wednesday’s close of 6.585%. Bond yields and prices move in opposite directions.
Since 8 November, the foreign institutional investors have sold a combined of nearly $10 billion in local equity and debt markets. So far this year, foreign institutional investors have bought $3.18 billion in equities and sold $6.73 billion in debt.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 102.87, down 0.41% from its previous close of 103.3.
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