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Rupee gains against US dollar in opening trade

LiveMint logoLiveMint 27-06-2017 Ravindra N. Sonavane

Mumbai: The Indian rupee on Tuesday strengthened against the US dollar in opening trade.

The rupee opened at 64.43 a dollar. At 9.15am, the rupee was trading at 64.42 a dollar, up 0.11% from its Friday’s close of 64.52. Stocks, bonds and currency markets were closed on Monday for a public holiday.

The 10-year bond yield was at 6.466% compared to its previous close of 6.460%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.10% or 30.83 points to 31,169.04. So far this year, it has risen 17.5%.

So far this year, the rupee has gained 5.28%, while foreign investors bought $8.23 billion and $14.02 billion in local equity and debt markets, respectively.

Asian currencies were trading mixed as investors fine-tune positions ahead of a speech by US Federal Reserve chair Janet Yellen.

Philippines peso was down 0.14%, Thai baht 0.07%, while Japanese yen and Taiwan dollar fell 0.03% each. However, China offshore was up 0.07%, South Korean won 0.05%, Singapore dollar 0.05% and Malaysian ringgit rose 0.03%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.397, down 0.03% from its previous close of 97.426.

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