MUMBAI: The Indian rupee strengthened for the fourth consecutive session on Thursday to hit a fresh 11-week high tracking gains in Asian markets ahead of US-China trade talks at the G-20 summit
The rupee closed at 69.07 a dollar, a level last seen on 11 April, up 0.11% from its previous close of 69.16. The Indian currency had opened at 69.27 a dollar.
The 10-year bond yield was at 6.899%, compared with Wednesday's close of 6.933%. Bond yields and prices move in opposite directions.
Traders are cautious before US President Donald Trump’s meeting with his Chinese counterpart Xi Jinping at the G-20 Summit. The US and China have tentatively agreed to a truce in their trade war ahead of the meeting between the two leaders on Saturday.
The benchmark equity index Sensex was down 0.01% at 39,586.41 points. Year to date, the index has risen 9.77%.
So far this year, the rupee has risen 0.88% against the greenback. During the period, foreign investors bought $11.39 billion in Indian equities and $1.27 billion in the debt market.
Among Asian currencies, the Philippines peso was up 0.23%, Taiwan dollar 0.21%, China Offshore 0.13%, and Indonesian rupiah 0.13%. The Japanese yen was down 0.2%, Thai baht 0.06% and Hong Kong dollar 0.06%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 96.286, up 0.07% from its previous close of 96.214.
Bloomberg contributed to this story