The Indian rupee on Monday pared most of its intraday gains and closed marginally higher against the US dollar, a day ahead of the release of the macroeconomic data. Intraday, the rupee gained as much as 0.2% against the dollar.
The home currency closed at 66.43, up 0.05% from its previous close of 66.47. The rupee opened at 66.47 and touched a high and a low of 66.33 and 66.48, respectively, in intraday trade.
Traders are cautious ahead of the Index of Industrial Production (IIP) and Consumer Price Index (CPI)-based inflation data, due on 12 April. According to Bloomberg estimates, IIP will be at 1% in February as against -1.5% in January. CPI will be at 5% in March as compared with 5.18% in February.
The markets will remain closed on Thursday on account of Ambedkar Jayanti and on Friday on account of Ram Navmi.
India’s benchmark Sensex rose 1.41%, or 348.32 points, to close at 25,022.16. So far this year, the Sensex has fallen 4.2%.
Most Asian currencies closed higher. South Korean won was up 0.63%, Malaysian ringgit was up 0.33%, Singapore dollar 0.28%, Taiwan dollar 0.16%, Thai baht 0.12%, Indonesian rupiah 0.08% and Hong Kong dollar 0.05%. However, China renminbi was down 0.12% and Japanese yen 0.08%.
Meanwhile, India’s 10-year bond yield closed at 7.418% as compared with its Friday’s close of 7.448%.
So far this year, the rupee has weakened 0.42%, while foreign institutional investors have bought $1.06 billion from local equity and sold $606.9 million in debt markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.101, down 0.14% from its previous close of 94.235.
US President Barack Obama is slated to meet Federal Reserve chairperson Janet Yellen on Monday to discuss the economy and Wall Street reform, according to a Bloomberg report.
source:- livemint.com
No comments:
Post a Comment