Rupee gains on hope government may roll back surcharge on FPIs1 min read . Updated: 09 Aug 2019, 09:13 AM IST
- The 10-year government bond yield was at 6.407%
- The domestic currency had opened at 70.55 against the US dollar
Mumbai: Indian rupee strengthened for the second session against the US dollar on Friday on hope the government may roll back the surcharge on foreign funds announced in the budget this year.
At 9.10 am, the rupee was at 70.52 a dollar, up 0.23% from its Thursday's close of 70.70. The domestic currency had opened at 70.55 and has so far touched a high of 70.51 and a low of 70.57 per dollar. So far this year, the unit has declined 1.1%.
The 10-year government bond yield was at 6.407%, compared with its previous close of 6.402%.
The benchmark equity index Sensex rose 0.57% to 37539.22 points. So far this year, it has risen 2.3%.
Finance Minister Nirmala Sitharaman and senior finance ministry officials are likely to meet financial sector representatives in Delhi on Friday, as per a plan of consultation announced last week, Mint reported.
Year to date, foreign investors have bought nearly $8.25 billion in equity and $2.58 billion in debt.
Most Asian currencies were trading higher on Friday. Philippines peso was up 0.33%, Taiwan dollar rose 0.18%, Indonesian rupiah gained 0.07%, Thai Baht rose 0.06%, Japanese yen was up 0.05%. However, China renminbi was down 0.05%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.552, down 0.07% from its previous close of 97.618.