Rupee rises marginally against US dollar1 min read . Updated: 27 Feb 2019, 09:18 AM IST
- Most other Asian currencies were up against US dollar today
- So far this year, the rupee is down about 2% against US dollar
Indian rupee on Tuesday opened marginally higher against US dollar tracking gains in the local equity markets At 9.08 am, the rupee was trading at 71.04 a dollar, up 0.06% from its previous close of 71.07. The home currency opened at 71.08 a dollar.
India's benchmark Sensex Index rose 0.46% to 36138.83 points in pre-opening trade.
Bond yields fell after RBI decided to conduct purchase of government securities under open-market operations for an aggregate ₹25,000 crore during the first fortnight of March via two auctions of ₹12,500 crore each
The 10-year bond yield was trading at 7.418%, lower than its Monday's close of 7.422%. Bond yields and prices move in opposite directions.
So far this year, the rupee has declined 1.85% against the US dollar, while foreign investors have bought $41.5 million in equity and sold $607.40 million in debt market.
Asian currencies were trading mixed. China renminbi was up 0.1%, Malaysian ringgit 0.1%, South Korean won 0.06%, Philippines peso 0.04%. However, Thai Baht was down 0.38%, Indonesian rupiah 0.19%, Singapore dollar 0.1%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.114, up 0.12% from its previous close of 96.003.
(Bloomberg contributed this story)