(Photo: Mint)
(Photo: Mint)

Rupee closes marginally stronger against US dollar

  • The 10-year bond yield was trading at 7.419%, up from its Tuesday's close of 7.39%
  • So far this year, the rupee has gained 0.4%

The Indian rupee closed stronger marginally against the US dollar as traders awaited minutes of the Reserve Bank of India’s April meeting due later today for possible clues on the central bank’s next policy move.

The rupee ended at 69.36 a dollar, up 0.37% from its previous close of 69.61. The home currency opened at 69.48 a dollar.

The 10-year bond yield ended at 7.419%, up from its Tuesday's close of 7.39%. Bond yields and prices move in opposite directions. Markets were closed yesterday due to Mahavir Jayanti.

So far this year, the rupee has gained 0.4%, while foreign investors have bought $8.91 billion in equity and $65.40 million in debt market.

India's benchmark Sensex fell 0.34% to 39140.28 points. Year to date, it rose 8.9%.

Asian currencies were trading lower. Malaysian ringgit was down 0.27%, South Korean won 0.15%, China Offshore 0.22%, China Renminbi 0.1%, Singapore dollar 0.05%. However, Indonesian rupiah was up 0.4%, Japanese yen 0.16%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.03, up 0.02% from its previous close of 97.009.

(Bloomberg contributed this story)

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