Mumbai:Â The Indian rupee was trading little changed against US dollar in opening trade on Wednesday, tracking mixed Asian currencies market.
The rupee opened at 64.08 a dollar. At 9.15am, the home currency was trading at 64.04 a dollar, down 0.01% from its Tuesdayâ€™s close of 64.04.
The 10-year bond yield opened marginally higher ahead of the sale of Rs14,000 crore of treasury bills. The government will offer Rs15,000 crore of bonds at a weekly sale on Friday.
Bond yield surged over 10 basis points on Tuesday after Reserve Bank of India (RBI) deputy governor Viral Acharya said that banks canâ€™t continue to rely on the regulator to manage its interest-rate risks.
This comes on the back of a report byÂ The Economic TimesÂ that public sector banks had sought the RBIâ€™s approval to spread treasury losses in the December quarter over two quarters intended to limit their mark-to-market losses in their investment portfolios.
The 10-year bond yield was at 7.385%, compared to its previous close of 7.269%. Bond yields and prices move in opposite directions.
The benchmark Sensex rose 0.14%, or 48.07 points, to 34,819.12. So far in 2018, it has gained 2.5%.
So far this year, rupee weakened 0.27%, while foreign investors bought $278.70 million and $384.10 million in equities and bonds, respectively.
Asian currencies were trading mixed. China renminbi was up 0.21%, Malaysian ringgit 0.17%, China offshore 0.13%, Thai baht 0.1% and Taiwan dollar rose 0.07%. However, Philippines peso was down 0.35%, Japanese yen 0.21% and South Korean won fell 0.18%.
The dollar index, which measures the US currencyâ€™s strength against major currencies, was trading at 90.479, up 0.10% from its previous close of 90.393.livemint