Rupee opens higher against US dollar | Indian Share Market

Indian Share Market


Rupee opens higher against US dollar

The Indian rupee on Monday strengthened against the US dollar, tracking gains in local equity and Asian currencies markets.

The rupee opened at 64.92 a dollar. At 9.15am, the home currency was trading at 64.90 against the dollar, up 0.24% from its Friday’s close of 65.05.

The BSE benchmark index rose 0.28%, or 92.14 points, to 33,249.36. So far this year, the Sensex has gained 25%.

The 10-year bond yield was at 6.819% compared to its previous close of 6.805%. Bond yields and prices move in opposite directions.

So far this year, the rupee has gained 4.5%, while foreign institutional investors have bought $5.77 billion and $22.40 billion in equity and debt, respectively.

Asian currencies were trading higher ahead of the expected announcement of the new US Federal Reserve chair. According to a Bloomberg report, President Donald Trump favours Jerome Powell for the next Fed chair.

South Korean won was up 0.58%, Taiwan dollar 0.30%, Indonesian rupiah 0.16%, Philippines peso 0.14%, China renminbi 0.10%, Japanese yen 0.1%, China offshore 0.07% and Malaysian ringgit 0.06%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.812.


Categories:   Higlighted News, Indian share market, Indian Stock exchange, Indian Stock Market, Indian Stock Pick, Mutual Funds, sharemarket online news


Sorry, comments are closed for this item.


Pin It on Pinterest