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Business News/ Markets / Stock Markets/  Rupee trades higher against US dollar
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Rupee trades higher against US dollar

Other Asian currencies also traded higher against US dollar
  • But so far this year, rupee has declined nearly 2% against the US dollar
  • Rupee had closed at 71.33 against USD on WednesdayPremium
    Rupee had closed at 71.33 against USD on Wednesday

    Indian rupee along with Asian currencies on Thursday strengthened as dollar held steady amid optimism about improvements in the China-US trade relations. In early trade, the currency was trading at 71.28 a dollar, higher than its previous close of 71.33. The home currency opened at 71.26 a dollar.

    The yield on the most-traded 2028 paper was trading at 7.568% from its previous close of 7.579. The yield on government bonds due in January 2029 was trading little changed to 7.317% from its previous close of 7.305. Bond yields and prices move in opposite directions.

    The benchmark Sensex index rose 0.17% to 36168.48 points. Year to date, it is rose 0.11%.

    So far this year, the rupee has declined 2.19%. Foreign investors have sold $372.60 million and $356.70 million in the equity and debt markets respectively.

    Asian currencies were trading higher. Indonesian rupiah was up 0.23%, China renminbi 0.1%, Japanese yen 0.08%, Malaysian ringgit 0.05%, Taiwan dollar 0.04%. However, Philippines peso and Thai Baht were down 0.06% each.

    The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.068, down 0.06% from its previous close of 96.123.

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    Published: 24 Jan 2019, 09:23 AM IST
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