Rupee opens higher against US dollar on Asian cues


Mumbai: The Indian rupee on Friday strengthened against the US dollar, tracking gains in its Asian peers.

The local currency opened at 64.96 a dollar. At 9.15am, the home currency was trading at 64.87, up 0.27% from its previous close of 65.05.

India’s benchmark Sensex index rose 0.28% or 93.09 points to 33,913.59. So far this year, Sensex has fallen 0.7%.

The yield on 10-year government bonds was at 7.740% compared to its Thursday’s close of 7.746%. Bond yields and prices move in opposite directions.

Year to date, the rupee weakened 1.4%, while foreign investors have bought $895.80 million and $1.68 billion in equity and debt markets, respectively.

Asia’s emerging currencies rose, paring weekly declines, following a drop in the dollar. 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