Rupee trades higher against US dollar on Asian cues

Mumbai: The Indian rupee on Friday strengthened against the US dollar, tracking gains in local equity and Asian currencies market.

At 1.55pm, the home currency was trading at 64.81, up 0.37% from its previous close of 65.05. The local currency opened at 64.96 a dollar.

India’s benchmark Sensex index rose 0.88% or 291.15 points to 34,110.65. So far this year, Sensex has rose 0.2%.

Yield on 10-year government bonds was at 7.724% compared to its Thursday’s close of 7.746%. Bond yields and prices move in opposite directions.

Year to date, the rupee weakened 1.3%, while foreign investors have bought $895.80 million and $1.68 billion in equity and debt markets, respectively.

Asian currencies were trading higher. South Korean won was up 0.56%, Philippines peso 0.43%, Malaysian ringgit 0.31%, China renminbi 0.23% and Indonesian rupiah rose 0.07%. However, Japanese yen was down 0.14% and Singapore dollar fell 0.1%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 89.853, up 0.13% from its previous close of 89.736.livemint