Rupee strengthens against US dollar
Mumbai: The Indian rupee strengthened against the US dollar ahead of the US employment report due later on Friday.
At 2.10pm, the rupee was trading at 64.64 a dollar, up 0.22% from its Thursday’s close of 64.78. The rupee opened at 64.74 a dollar and touched a high and a low of 64.61 and 64.76 respectively.
The 10-year bond yield was at 6.524%, compared to its previous close of 6.538%. Bond yields and prices move in opposite directions.
The benchmark Sensex index rose 0.13% or 39.32 points to 31,408.66. So far this year, it has risen 17.26%.
So far this year, the rupee has gained 5%, while foreign investors bought $8.21 billion and $14.15 billion in local equity and debt markets, respectively.
Asian currencies were trading higher. South Korean won was up 0.27%, Philippines peso 0.18%, Malaysian ringgit 0.05%. However, Japanese yen was down 0.48%, Indonesian rupiah 0.03%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.935, up 0.14% from its previous close of 95.802.
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