(Photo: Reuters)
(Photo: Reuters)

Rupee gains tracking other Asian currencies

  • The domestic currency opened at 69.82/$, touching a high of 69.81
  • The 10-year bond yield was at 6.916%

Mumbai : The Indian rupee strengthened against the US dollar on Tuesday, tracking gains in other Asian currencies.

At 09:08 am, rupee was trading at 69.82 a dollar, up 0.12% from its previous close of 69.90. The currency opened at 69.82 a dollar, touching a high of 69.81 and a low of 69.85.

The 10-year bond yield was at 6.916% from its Monday’s close of 6.931%. Bond yields and prices move in opposite directions.

Benchmark equity index, Sensex, gained 0.25% or 96.19 points to 39056.98 points in pre-opening trade. Since January, it has gained 8.29%.

So far this year, rupee has weakened 0.08%. Foreign investors have bought $11.24 billion and $ 1.24 billion in equity and debt markets, respectively.

Most Asian currencies were trading higher. South Korean Won gained 0.243%, Japanese Yen rose 0.185% and Philippines Peso was up 0.130%. Thai Baht rose 0.077%, Singapore Dollar gained 0.066% and Indonesian Rupiah climbed 0.195%. However, Malaysian Ringgit lost 0.036%, China Offshore fell 0.020%, Taiwan Dollar eased 0.006%, China renminbi declined 0.003% and Hong Kong Dollar was down 0.001%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.445, down 0.12% from its previous close of 97.558.

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