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Rupee holds firm against US dollar in opening trade

LiveMint logoLiveMint 30-03-2017 Ravindra N. Sonavane

Mumbai: The Indian rupee on Thursday was trading little changed against the US dollar in the opening trade.

The rupee opened at 64.88 a dollar and touched a high of 64.88. At 9.15am, the home currency was trading at 64.93—down 0.02% from its Wednesday’s close of 64.91.

So far this year, rupee has gained 4.3%, while foreign institutional investors have bought $4.86 billion and $3.09 billion from local equity and debt markets, respectively. The 10-year bond yield was trading at 6.741%, compared to its previous close of 6.749%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.02% or 6.60 points to 29,538.03. So far this year, it has risen 10%.

Asian currencies were trading lower. Thai baht was down 0.24%, Taiwanese dollar 0.24%, China Offshore 0.22%, South Korean won 0.21%, Japanese yen 0.2%, Singapore dollar 0.14%, Philippines peso 0.1%, Malaysian ringgit 0.08%, China renminbi 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.09—up 0.09% from its previous close of 99.998.

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