Rupee edges higher against US dollar1 min read . Updated: 20 Feb 2019, 02:41 PM IST
- Most other Asian currencies were higher against the US dollar
- The rupee today opened at 71.27 a dollar
The Indian rupee on Wednesday strengthened against the US dollar, tracking gains in other Asian currencies versus the greenback.
At 2 pm, the rupee was trading at 71.15 a dollar, up 0.30% from its previous close of 71.36. The currency opened at 71.27 a dollar, touching a high 71.13 and a low 71.34.
The 10-year bond yield stood at 7.34%, lower than previous close of 7.369%. Bond yields and prices move in opposite directions.
Benchmark stock market index Sensex gained 0.81% or 287.21 points to 35639.82 points. Since January, it has lost 1.19%.
So far this year, rupee has weakened 1.92% against US dollar, the worst performer among Asian currencies, while foreign investors have sold $91.34 million and $476.78 million in equity and debt markets, respectively.
Other Asian currencies were trading mostly trading higher against US dollar. China renminbi gained 0.5%, Philippine Peso 0.454%, South Korean Won 0.415%, Indonesian Rupiah 0.413%, China Offshore 0.311%, Malaysian Ringgit 0.251%, Thai Baht 0.216%, Taiwan Dollar 0.075% and Singapore Dollar 0.059% . However, Japanese Yen lost 0.198% and Hong Kong Dollar 0.009%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.539, up 0.02% from its previous close of 96.520.