Rupee opens higher against US dollar | Indian Share Market

Indian Share Market


Rupee opens higher against US dollar

Mumbai: Indian rupee on Tuesday strengthened marginally against the US dollar ahead of the key domestic as well as foreign data.

The rupee opened at 65.31 a dollar. At 9.15am, the home currency was trading at 65.28 against the dollar, up 0.15% from its Monday’s close of 65.36.

The government will issue Index of Industrial Production and Consumer Price Index-based inflation data for August and September, respectively, on 12 October. Traders will also keep an eye on the minutes of US Federal Reserve which is due on Wednesday.

The BSE benchmark index rose 0.29%, or 92.27 points, to 31,939.16. So far this year, the Sensex has gained over 20%.

The 10-year bond yield was at 6.779%, compared to its previous close of 6.780%. Bond yields and prices move in opposite directions.

So far this year, the rupee has gained 4%, while foreign institutional investors have bought $5.11 billion and $21.29 billion in equity and debt, respectively.

Asian currencies were trading higher. China offshore spot was up 0.43%, China renminbi 0.38%, South Korean won 0.30%, Singapore dollar 0.29%, Taiwan dollar 0.21%, Malaysian ringgit 0.2%, Indonesian rupiah 0.17% and Thai baht 0.09%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.532, down 0.15% from its previous close of 93.675.

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