The Indian rupee on Tuesday recouped all morning losses and was trading higher against the US dollar after international crude oil price fell for the third consecutive day.
At 3.13pm, the home currency was trading at 63.58, up 0.13% from its previous close of 63.67. The rupee opened at 63.70 a dollar and touched a low of 63.75—a level last seen on 30 June.
Brent crude was trading at $56.50 per barrel, down 0.3% from its previous close. The Sensex was trading at 28,202.17 points, down 0.77%, or 217.95 points.
The yield on India’s 10-year benchmark bond was trading at 7.841% compared with its Monday’s close of 7.844%. Bond yields and prices move in opposite directions.
Most Asian currencies were trading higher. Singapore dollar was up 0.18%, Philippine peso 0.16%, Indonesian rupiah 0.11% and Malaysian ringgit 0.1%. However, South Korean won was down 0.52% while Japanese yen and Taiwan dollar were down 0.06% each.
Since the beginning of this year, the rupee has lost 0.85%, while foreign institutional investors have bought $7.18 billion from the local equity market and $6.7 billion from the bond market.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.905, down 0.13% from its previous close of 98.029.
Source:livemint.com
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