Rupee trades marginally higher against US dollar

So far this year, the rupee has weakened 7%, while foreign investors have sold $410.30 million and $5.62 billion in equity and debt markets, respectively. Photo: Mint

So far this year, the rupee has weakened 7%, while foreign investors have sold $410.30 million and $5.62 billion in equity and debt markets, respectively. Photo: Mint

Mumbai:The Indian rupee on Wednesday was trading marginally higher against the US dollar, tracking gains in local equity markets. At 9.12am, the rupee was trading at 68.64 a dollar, up 0.05% from its previous close of 68.69. The currency opened at 68.66 a dollar.

Bond yields gained for the fifth consecutive session after crude oil prices rose. Crude prices which were trading up at $ 74/bbl and advanced further during the day threatening to breach the $75/bbl mark. The 10-year bond yield stood at 7.791%, from its Tuesday’s close of 7.786%. Bond yields and prices move in opposite directions.

Benchmark Sensex Index rose 0.39% or 145.44 points to 37,811.24. Since January, it has gained 10.6%.

So far this year, the rupee has weakened 7%, while foreign investors have sold $410.30 million and $5.62 billion in equity and debt markets, respectively.

Asian currencies were trading mixed. South Korean won was up 0.36%, China renminbi 0.11%. However, China Offshore was down 0.1%, Philippines peso 0.09%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.125, down 0.06% from its previous close of 95.186.

[“Source-livemint”]