Rupee rises marginally against dollar
At 9.15am, the home currency was trading at 71.84 a dollar, up 0.08% from its Friday’s close of 71.90
The Indian rupee on Monday strengthened marginally against the US dollar after India’s trade deficit narrowed from a month ago due to sharp fall in gold imports. At 9.15am, the home currency was trading at 71.84 a dollar, up 0.08% from its Friday’s close of 71.90. The currency opened at 71.85 a dollar. In November, trade deficit was at $16.67 billion from $17.13 billion last month. Oil imports increased by 4.3% while exports slowed, rising 0.8% from 17.86% in October. Gold imports fell 15.59% to $2.76 billion in November. The 10-year government bond yield stood at 7.438% from its previous close of 7.441%. Bond yields and prices move in opposite directions.
The benchmark Sensex Index rose 0.34% or 120.79 points to 36,083.72 points. Year to date, it has rose 5.6%.
So far this year, the rupee has declined 11%, while foreign investors have sold $4.55 billion and $7.36 billion in the equity and debt markets, respectively.
Aisan currencies were trading higher. Philippines peso was up 0.21%, China Renminbi 0.16%, Thai Baht 0.16%, Singapore dollar 0.10%, China Offshore 0.06%. However, Indonesian rupiah was down 0.16%, Japanese yen 0.09%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.408, down 0.04% from its previous close of 97.443.
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