The Indian rupee on Tuesday closed marginally higher against the US dollar, tracking the gains in the Asian currencies markets. This was the sixth consecutive session when the rupee closed higher against the US currency.
The rupee closed at 66.33 a dollar, up 0.03% from its previous close of 66.35. The local currency opened at 66.31 a dollar.
India’s benchmark equity index, BSE Sensex, ended at 25,590.65 points, down 0.56%, or 145.25 points.
The yield on India’s 10-year benchmark bond closed at 7.76% compared with its Monday’s close of 7.772%. Bond yields and prices move in opposite directions.
Traders are cautious in a holiday shortened week ahead.
Markets will remain closed on Friday for Christmas.
Since the beginning of this year, the rupee has weakened 4.9% against the dollar, while foreign institutional investors (FIIs) have bought $2.84 billion from local equity markets and $7.77 billion from the debt market.
Most of the Asian currencies were trading higher against the dollar. The Indonesian rupiah was up 1%, South Korean won 0.39%, China offshore 0.29%, Singapore dollar 0.17%, Taiwan dollar 0.14%, Thai baht 0.14% and Japanese yen 0.13%. However, Malaysian ringgit was down 0.14%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 98.334, down 0.04% from its previous close of 98.363.
Traders are awaiting the gross domestic product (GDP) and home sales numbers and corporate profits data in the US later in the day, according to a Reuters report.
Brent crude fell for 16 out of 19 trading sessions. Since 25 November, it fell 22.11%. Brent crude was trading at $36.57 a barrel, up 0.63% from its previous close.
China’s leadership signalled that it will take more steps to support economic growth from a 25-year low, including by widening the fiscal deficit and stimulating the housing market. Statements released at the end of the government’s Central Economic Work Conference also highlighted the desire for more “flexible” monetary policy, Bloomberg reported.
Source:- livemint.com
No comments:
Post a Comment