BackRupee gains for third session against US dollar
Other Asian currencies were also trading higher against the US dollarSo far this year, the rupee has declined nearly 2% against US dollar
PremiumIndian rupee today for the third session against US dollar as crude oil prices eased and on expectations that a farm relief package will cost less than anticipated. At 9.15 am, the currency was trading at 71.01 a dollar, up 0.10% from previous close of 71.08. The home currency opened at 70.98 a dollar.
The yield on the most-traded 2028 paper was at 7.578%, higher than its previous close of 7.558%. The yield on government bonds due in January 2029 was trading at 7.359% as compared to its previous close of 7.322%. Bond yields and prices move in opposite directions.
The benchmark Sensex index rose 0.18% to 36258.77 points. Year to date, it is rose 0.35%.
So far this year, the rupee has declined 1.84%, while foreign investors have sold $522.50 million and $394.30 million in the equity and debt markets respectively.
Asian currencies were trading higher as a gauge of regional equities gained for a second day despite signals trade talks between US and China were not going smoothly.
South Korean won was up 0.34%, China Offshore 0.22%, Philippines peso 0.21%, China renminbi 0.21%, Malaysian ringgit 0.17%, Singapore dollar 0.14%, Taiwan dollar 0.11%, Thai Baht 0.11%, Indonesian rupiah 0.1%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.401, down 0.21% from its previous close of 96.601.
(Bloomberg contributed this story)
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