BackRupee closes marginally stronger against dollar at 61.28
The partially convertible rupee opened at 61.21 per dollar compared with its previous close of 61.32
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Mumbai: The Indian rupee strengthened marginally against the US dollar for the fourth consecutive session on Wednesday, tracking gains in local equities and Asian currencies market.
The rupee closed at 61.28 per dollar, up 0.06% from previous close of 61.32. India’s benchmark equity index, Sensex ended at 26,787.23 points on BSE, up 0.8%
The local unit opened at 61.21 per dollar.
The yield on India’s 10-year benchmark bond ended at 8.359%, compared with its Tuesday’s close of 8.373%. Bond yields and prices move in opposite directions.
Most of the Asian currencies ended higher. South Korean won was up 0.32%, Singapore dollar rose 0.18%, Japanese yen edged up 0.07%, while the China renminbi advanced 0.08%. The Thai baht was down 0.19%, the Philippines peso was down 0.12%, while the Indonesian rupiah was down 0.11%.
Since the beginning of this year, the rupee has gained 0.85%, while foreign institutional investors have bought $13.25 billion during the period from local equity markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 85.4, up 0.11% from the previous close of 85.303.
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