Mumbai: The Indian rupee on Wednesday opened marginally stronger in line with its Asian peers amid dollar weakness and signs of contraction in US manufacturing.

The currency opened at 72.20 to a dollar. At 9.10 am, the domestic currency was trading at 72.21, up 0.27% from its Tuesday's close of 72.39.

The 10-year government bond yield was at 6.515% compared with its previous close of 6.521%.

In pre-trade, the benchmark equity index Sensex was down 0.01% at 36559.36 points. So far this year, the index has risen 1.37%.

In the year so far, rupee weakened 3.41% while foreign investors have bought nearly $7.21 billion in Indian equities and $4.25 billion in debt.

Asian currencies were trading higher. South Korean won was up 0.48%, Malaysian ringgit 0.2%, Philippines peso 0.18%, Indonesian rupiah 0.14%, China renminbi 0.13%, China Offshore 0.1%, Taiwan dollar 0.09%, Singapore dollar 0.07%, Thai Baht 0.06%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.913, down 0.09% from its previous close of 99.

(Bloomberg contributed this story)

Close