The Indian rupee on Wednesday closed marginally stronger against the US dollar, tracking gains in Asian currencies market.

The rupee ended at 70.34 to a dollar, up 0.15% from its previous close of 70.44. The Indian currency opened at 70.34 a dollar.

The benchmark Sensex index fell 0.55% to 37114.88 points. Year to date, the index has risen 3%.

The 10-year bond yield was at 7.38% compared with Tuesday's close of 7.378%.

So far this year, the rupee has declined 0.3% against the US greenback. During the period, foreign investors bought $9.78 billion in Indian equities and sold $917 million in debt market.

Other Asian currencies traded higher as traders took heart from a possible meeting between US President Donald Trump and his Chinese counterpart in June, an encounter that could prove crucial in resolving deepening trade conflict between the world’s two largest economies.

The South Korean won was up 0.11%, Taiwan dollar rose 0.09%, Philippines peso was 0.09% higher, China Offshore climbed 0.08%, Singapore dollar was up 0.07%. However, the Indonesian rupiah and the Japanese yen were down 0.06% each.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.375, down 0.01% from its previous close of 97.373.

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