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Rupee opens marginally higher against US dollar

LiveMint logoLiveMint 06-07-2017 Ravindra N. Sonavane

Mumbai: The Indian rupee on Thursday opened marginally higher against the US dollar in opening trade.

The rupee opened at 64.77 a dollar. At 9.15am, the rupee was trading at 64.75 a dollar, up 0.04% from its Wednesday’s close of 64.78.

The 10-year bond yield was at 6.538%, compared to its previous close of 6.551%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.2% or 63.48 points to 31,309.04. So far this year, it has risen 17.26%.

So far this year, the rupee has gained 4.85%, while foreign investors bought $8.19 billion and $14.26 billion in local equity and debt markets, respectively.

Asian currencies were trading lower. Thai baht was down 0.16%, South Korean won 0.15%, Taiwan dollar 0.14%, Singapore dollar 0.06% and Malaysian ringgit 0.04%. However, Japanese yen was up 0.17%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.276, down 0.01% from its previous close of 96.29.

US Federal Reserve minutes showed officials continued to view gradual interest-rate increases as appropriate while starting the process of unwinding their $4.5 trillion balance sheet this year.

Traders are cautious ahead of the G-20 summit which takes place in Hamburg, where US President Donald Trump is expected to hold his first meeting with Russia’s Vladimir Putin, as well as meet his Chinese counterpart Xi Jinping.

Traders are also cautious ahead of the Job data on Friday. According to a Bloomberg poll, American employers may have added around 177,000 workers in June and strengthened wage growth, consistent with a solid labour market.

Bloomberg contributed this story-

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