Rupee opens higher against US dollar

Mumbai: The rupee on Monday strengthened marginally against the US dollar tracking gains in the Asian currencies markets.

The rupee opened at 64.07 a dollar. At 9.15am, the rupee was trading at 64.07 a dollar, up 0.11% from its Friday’s close of 64.15.

The benchmark Sensex index rose 0.66% or 208.51 points to 31,733.19. So far this year, it has risen over 18.4%. The 10-year bond yield was at 6.513%. Bond yields and prices move in opposite directions.

So far this year, the rupee gained 5.89%, while foreign institutional investors (FIIs) bought $7.94 billion and $18.91 billion in equity and debt markets, respectively.

Asian currencies were trading higher. South Korean won was up 0.24%, Philippines peso 0.18%, Taiwan dollar 0.08%, Indonesian rupiah 0.06%, China Offshore 0.06%.

Traders are cautious ahead of the speeches from Federal Reserve chair Janet Yellen and ECB President Mario Draghi at the Jackson Hole Symposium on 25 August and 26 August respectively.

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