Rupee strengthens marginally against US dollar in opening trade


Mumbai: Indian rupee on Tuesday strengthened marginally against the US dollar tracking gains in the Asian currencies market.

The rupee opened at 64.97 a dollar. At 9.15am, the home currency was trading at 64.92 against the dollar, up 0.14% from its Monday’s close of 65.02.

The BSE benchmark index rose 0.19%, or 61.85 points, to 32,568.57. So far this year, the Sensex has gained over 22.08%.

The 10-year bond yield was at 6.791% compared to its previous close of 6.796%. Bond yields and prices move in opposite directions.

So far this year, the rupee has gained 4.47%, while foreign institutional investors have bought $4.65 billion and $21.92 billion in equity and debt, respectively.

Asian currencies were trading higher as the market awaits European Central Bank policy review and a decision by US President Donald Trump on the next head of the Federal Reserve.

South Korean won was up 0.21%, China renminbi 0.16%, Singapore dollar 0.15%, Indonesian rupiah 0.13%, China offshore 0.10%, Japanese yen 0.09%, Malaysian ringgit 0.08%, Taiwan dollar 0.07%, Thai baht 0.07%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.705, down 0.24% from its previous close of 93.936.