Rupee closes at five-month high against US dollar
Mumbai: The Indian rupee strengthened for a third session and closed at a five-month high against the US dollar on the first day of 2018 year on Monday.
The home currency ended at 63.68 a dollar—a level last seen on 8 August, up 0.33% from its Friday’s close of 63.87.The rupee opened at 63.86 a dollar and touched a high of 63.63.
Most of the global markets are closed due to New Year.
In the year 2017, the rupee gained 6.35% and Sensex rose 28%, while foreign institutional investors have bought $7.73 billion and $23.27 billion in equity and debt, respectively.
The 10-year bond yield closed at 7.336% compared to its previous close of 7.326%. Bond yields and prices move in opposite directions.
The benchmark Sensex fell 0.72%, or 244.08 points, to 33,812.75.