The rupee on Tuesday opened higher against the dollar, carrying forward the momentum it gained on Monday, on hopes of emerging political stability in the country and tracking the strength seen in Asian currency markets.
The partially convertible rupee opened at 60.99 per dollar against Monday’s close of 61.1350. Since its all-time low of 68.85 on 28 August, the domestic currency has gained 12.67% till date, but has lost 9.97% since January.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.043, down 0.12% from the previous close of 80.134. Majority of the Asian currencies were seen trading higher against dollar.
The yield on India’s 10-year benchmark bond was trading at 8.920%, up from its previous close of 8.906.
At 9.10am, the rupee was trading at 61.07, up 0.11%. India’s equity benchmark Sensex was trading at 21,293.58 points, down 0.15% from its previous close.
Source:- livemint.com
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