Rupee opens marginally higher against US dollar


Mumbai: The Indian rupee on Tuesday was trading marginally higher against the US dollar in the opening trade.

The currency opened at 64.24 a dollar. At 9.10am, the home currency was trading at 64.18 a dollar, up 0.09% from its Monday’s close of 64.24.

The benchmark Sensex rose 0.33%, or 110.83 points, to 33,712.51. So far this year, it has gained 26.20%.

The 10-year bond yield was at 7.187%, compared to its previous close of 7.181%. Bond yields and prices move in opposite directions.

So far this year, the rupee has gained 5.7%, while foreign institutional investors have bought $8.32 billion and $22.86 billion in equity and debt, respectively.

Asian currencies were trading lower as optimism grew that US legislators are on the brink of passing sweeping tax cuts.

Thai baht was down 0.59%, China offshore 0.08%, Singapore dollar 0.07%, Philippines peso 0.07%, Japanese yen 0.05% and Hong Kong dollar fell 0.05%. However, Malaysian ringgit was up 0.17% and South Korean won 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.684, down 0.01%, from its previous close of 93.695.