Rupee had opened at 70.84 Photo: Bloomberg
Rupee had opened at 70.84 Photo: Bloomberg

Rupee opens marginally higher tracking Asian peers

  • The 10-year government bond yield was at 6.381%, compared with its previous close of 6.369%
  • Asian currencies were trading higher after China’s central bank set its daily fixing stronger than expected

The Indian rupee rose a tad higher against the US dollar on Thursday tracking its Asian peers, which gained as a stronger yuan eased concern about the US-China trade dispute.

The rupee was at 70.80 a dollar, up 0.10% from its Wednesday's close of 70.89. The domestic currency had opened at 70.84 and has so far touched a high of 70.78 and a low of 70.84 per dollar. So far this year, the unit has declined 1.41%.

The 10-year government bond yield was at 6.381%, compared with its previous close of 6.369%.

The benchmark equity index Sensex rose 0.24% to 36779.80 points. So far this year it has risen 1.72%.

Year to date, foreign investors have bought nearly $8.25 billion in equity and $2.58 billion in debt.

Asian currencies were trading higher after China’s central bank set its daily fixing stronger than expected, tempering concerns over a trade war between the nation and US

Taiwan dollar was up 0.37%, South Korean won rose 0.27%, Thai Baht gained 0.24%, China Offshore climbed 0.21%, China renminbi rose 0.20%, Malaysian ringgit was up 0.15%, Philippines peso gained 0.13%, Japanese yen rose 0.07% and Singapore dollar 0.06%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.537, down 0.01% from its previous close of 97.544.

(Bloomberg contributed to this story)

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