The Indian rupee opened marginally lower against the dollar on Monday, tracking losses in the Asian currencies market. The local unit opened at 62.33 per dollar. At 9.05 am, the home currency was trading at 62.34, down 0.04% from previous close of 62.32.
The Sensex index rose 0.23% or 66.84 points to 28,946.22 points. Among the Asian currencies, Malaysian ringgit was down 0.82%, Philippine peso down 0.51%, South Korean 0.29%, Indonesian rupiah 0.17%, Taiwan dollar 0.15% and Thai baht 0.11%.
The yield on India’s 10-year benchmark bond was trading at 7.780% compared with its Friday’s close of 7.798%. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has gained 5.02%, while foreign institutional investors have bought $13 billion from local equity and bond markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.482, up 0.14% from the previous close of 99.338.
Source:livemint.com
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