Home > market > stock-market-news > Rupee gains against dollar today after hitting record low

Mumbai: The Indian rupee (INR) strengthened against the US dollar on Friday, as a recovery in regional stocks was offset by continued anxiety over the US-China trade dispute and yuan weakness.

Rupee closed at 68.47 a dollar, up 0.47% from its Thursday’s close of 68.79. It opened at 68.66 a dollar. The rupee had on Thursday breached 69 level against the dollar to register a record low.

The benchmark Sensex gained 1.10%, or 385.84 points, to close at 35,423.48. The 10-year bond yield was trading at 7.901% compared to its previous close of 7.935%. Bond yields and prices move in opposite directions.

So far this year, rupee lost 6.72%, while foreign institutional investors have sold $935 million in equity and $8.60 billion in debt, respectively.

Asian currencies were trading higher. South Korean won gained 0.828%, Indonesian rupiah 0.447%, Singapore Dollar 0.352%, Taiwan dollar 0.338%, Philippines peso 0.257%, Thai Baht 0.202%, China Offshore 0.193%, China Renminbi 0.139%, Malaysian Rinnggit 0.099% and Hong Kong dollar 0.022%. However, Japanese yen lost 0.145%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.725, down 0.62%, from its previous close of 95.312.

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