Rupee marginally higher against US dollar

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Rupee marginally higher against US dollar

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.

source: livemint