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

Traders await for more developments on US-China trade talks
  • So far this year, the rupee has lost 2% against the US dollar
  • The rupee had closed at 71.24 a dollar on Thursday.Premium
    The rupee had closed at 71.24 a dollar on Thursday.

    Indian rupee strengthened against US dollar on Friday, tracking gains in Asian currencies. At 2 pm, the home currency was trading at 71.16 a dollar, up 0.11% from its Thursday’s close of 71.24. The currency opened at 71.19 a dollar, touching a high 71.13 and a low 71.26.

    The 10-year government bond yield stood at 7.377%, as compared to its previous close of 7.350%. Bond yields and prices move in opposite directions.

    So far this year, the rupee lost 1.93%, while foreign investors have sold $129.18 million and $726.16 million in the equity and debt markets, respectively.

    Asian currencies were trading higher. Philippines peso gained 0.200%, Indonesian rupiah 0.100%, China Offshore 0.086%, Singapore dollar 0.081%, China renminbi 0.071%, Taiwan dollar gained 0.055%, Malaysian ringgit 0.032% and South Korean won 0.004%. However, Thai Baht 0.205%, Japanese yen 0.018% and Hong Kong Dollar 0.017%.

    The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.550, down 0.06% from its previous close of 96.605.

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    Published: 22 Feb 2019, 10:00 AM IST
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