After gaining last week, the Indian rupee on Monday opened lower against the US dollar, tracking its Asian peers, but dealers said sentiments remain positive in the currency market.
The rupee opened at 61.67 per dollar against its Friday’s close of 61.55.The dollar index, which measures the US currency’s strength against major currencies, was trading at 81.19, down 0.04% from the previous close of 81.22.
The yield on India’s 10-year benchmark bond was trading at 8.571%, compared with Friday’s close of 8.628%. Bond prices and yields move in opposite directions.
Last week, the rupee had gained 0.58% against the dollar. So far this year, foreign institutional investors have bought about $332.7 million worth stocks in the local equity markets.
At 9.15am, the domestic currency was trading at 61.58 per dollar, down 0.06% from its previous close. The 30-share bellwether BSE Sensex was trading at 21,083.53 points, up 0.09%.
Source:- livemint.com
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