(Photo: Reuters)
(Photo: Reuters)

Rupee opens marginally higher

  • At 9.07 am, the rupee traded at 69.74 a dollar, up 0.12%
  • The 10-year bond yield was at 7.142%

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

At 9.07 am, the rupee traded at 69.74 a dollar, up 0.12% from its previous close of 69.83. The Indian had currency opened at 69.71 a dollar.

The benchmark Sensex index was up 0.37% at 39,619.43 points. Year to date, the index has risen 10%.

The 10-year bond yield was at 7.142% compared with Wednesday's close of 7.126%.

Later today, Bharatiya Janata Party leader Narendra Modi will take oath as the country’ prime minister for a second term. Traders will eye the allotment of ministries to various leaders of the party and allies.

So far this year, the rupee has risen 0.1% against the US greenback. During the period, foreign investors bought $10.77 billion in Indian equities and sold $18.70 million in debt market.

Other Asian currencies also traded higher even as markets assessed the impact of persistent trade conflicts. The South Korean won was up 0.36%, Philippines peso 0.27%, Singapore dollar 0.12%, Thai Baht 0.07%, China Offshore 0.07%. However, Indonesian rupiah was down 0.24%, while Malaysian ringgit fell 0.08%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.121, down 0.02% from its previous close of 98.144.

(Bloomberg contributed this story)

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