Indian rupee on Tuesday traded marginally higher against US dollar after local equity markets opened higher for sixth consecutive sessions.
At 9.15am, the currency was trading at 71.18 a dollar, up 0.14% from previous close of 71.28. The home currency opened at 71.23 a dollar.
The yield on the most-traded 2028 paper was down 3 basis points to 7.543% from its previous close of 7.573%. The yield on government bonds due in January 2029 traded little changed at 7.324% from its previous close of 7.321%. Bond yields and prices move in opposite directions.
The benchmark Sensex index rose 0.17% to 36639.96 points. Year to date, it is rose 1.42%.
Rupee marginally higher against US dollar
So far this year, the rupee has declined 1.87%, while foreign investors have sold $554.50 million and $193.10 million in the equity and debt markets respectively.
Asian currencies traded mixed due to concern over slowing global growth and trade tensions. Japanese yen was up 0.14%, Thai Baht 0.09%, Indonesian rupiah 0.08%. However, Malaysian ringgit was down 0.35%, South Korean won 0.17%, China Offshore 0.06%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.332, up 0.01% from its previous close of 96.336.