The Indian rupee on Monday opened higher against the dollar tracking gains in the Asian currencies market. The local currency opened at 60.10 per dollar against its Friday’s close of 60.16.
Most of the Asian currencies were trading higher. The Japanese yen was trading up 0.3%, South Korean won was up 0.26%, Malaysian ringgit up 0.23%, Thai baht up 0.16%, while the Philippines peso rose 0.16%.
Since the beginning of this year, the rupee has gained 2.87% against the dollar, while foreign institutional investors have bought $5.3 billion from local equity markets.
The yield on India’s 10-year benchmark bond was trading at 8.78%, compared with its Friday’s close of 8.81%. Bond yields and prices move in opposite directions.
At 9.12am, the rupee was trading at 60.05 per dollar, up 0.15% from its previous close, while India’s equity benchmark Sensex index was trading at 22,432.77 points on BSE, up 0.13%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 79.46, down 0.07% from the previous close of 79.51.
Source:- livemint.com
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