Active Stocks
Tue Mar 19 2024 13:21:10
  1. Tata Consultancy Services share price
  2. 4,013.45 -3.17%
  1. Tata Steel share price
  2. 149.80 0.13%
  1. Bharti Airtel share price
  2. 1,232.00 0.57%
  1. Power Grid Corporation Of India share price
  2. 259.75 -1.98%
  1. ITC share price
  2. 409.65 -1.86%
Business News/ Markets / Stock Markets/  Rupee inches higher against US dollar
BackBack

Rupee inches higher against US dollar

Industrial production and consumer inflation data will be announced later today
  • Asian currencies were trading mixed against US dollar
  • So far this year the rupee is down about 2% against US dollarPremium
    So far this year the rupee is down about 2% against US dollar

    The Indian rupee today strengthened against the US dollar as traders await key macroeconomic data due after 5.30 pm.

    At 2 pm, the rupee was trading at 70.86 a dollar, up 0.44% from its previous close of 71.17. The currency opened at 71.16 a dollar, touching a high 70.76 and a low 71.20.

    The 10-year bond yield stood at 7.341%, as compared to its Monday’s close of 7.355%. Bond yields and prices move in opposite directions.

    The government will later today issue Index of Industrial Production (IIP) and Consumer Price Index (CPI) data for December and January respectively. According to Bloomberg analyst estimates, IIP will be at 1.5% against 0.5% a month ago and CPI will be 2.54% against 2.19% a month ago. The government will also release Wholesale Price Index (WPI) inflation data on 14 February.

    So far this year, rupee has weakened 1.54% against the US dollar while foreign investors bought $391.41 million and sold $442.26 million in equity and debt markets, respectively.

    Asian currencies were trading mixed. Indonesian Rupiah lost 0.064%, Malaysian Ringgit 0.071%, Japanese Yen 0.181%, Taiwan Dollar 0.026% and Hong Kong Dollar 0.001%. However, Thai Baht gained 0.265%, Singapore Dollar 0.132%, China Offshore 0.166%, China Renminbi 0.196%, South Korean Won 0.071% and Philippine Peso 0.071%.

    The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.030, down 0.03% from its previous close of 97.057.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 12 Feb 2019, 09:39 AM IST
    Next Story footLogo
    Recommended For You
    GENIE RECOMMENDS

    Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

    Let’s get started
    Switch to the Mint app for fast and personalized news - Get App

    Chat with MintGenie