The Indian rupee on Monday opened marginally higher against the US dollar as traders awaited further cues on key data later this week.
At 9.08am, the home currency was trading at 63.78, up 0.05% from its previous close of 63.82. The local unit opened at 63.79 per dollar. The benchmark Sensex index rose 0.06% to 28,254.71 points.
The government will release consumer price inflation for July and Index of Industrial Production data for June on 12 August and for wholesale price inflation for July on 14 August. The yield on India’s 10-year benchmark bond was trading at 7.792% compared with its Friday’s close of 7.81%. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has lost 1.2%, while foreign institutional investors have bought $7.34 billion from local equity and $6.45 billion from bond markets. The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.654, up 0.1% from its previous close of 97.563.
Most of the Asian currencies were trading mixed. South Korean won was up 0.16% and Thai baht 0.1%. However, Japanese yen was down 0.11% and Taiwan dollar 0.06%.
The US Department of Labour said on Friday that employers added 215,000 jobs in July, only slightly below a Reuters poll estimate of 223,000 jobs. The unemployment rate was held at a seven-year low of 5.3% and there were signs that wages were beginning to pick up.
Source:livemint.com
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