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Rupee opens slightly higher against US dollar

LiveMint logoLiveMint 19-04-2017 Ravindra N. Sonavane

Mumbai: The Indian rupee on Wednesday was trading marginally higher against the US dollar in opening trade. The rupee opened at 64.61 a dollar. At 9.15am, the rupee was trading at 64.57 a dollar, up 0.09% from its Tuesday’s close of 64.63. Year-to-date, it gained 5.3%.

Foreign institutional investors (FIIs) were net sellers for the sixth consecutive session and sold nearly $368.56 million in the local equity markets in this period. So far this year, they bought $6.56 billion and $6.99 billion from local equity and debt markets, respectively.

The benchmark Sensex index rose 0.16% or 45.73 points to 29,364.83. So far this year, it has risen 12%.

The 10-year bond yield was trading at 6.862% compared to its previous close of 6.864%. Bond yields and prices move in opposite directions.

Asian currencies were trading lower. Singapore dollar was down 0.11%, Singapore dollar 0.09%, China offshore spot 0.09%, Philippines peso 0.07%, Taiwan dollar 0.07% and South Korean won 0.06%. However, Thai baht was up 0.09% and Malaysian ringgit 0.08%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.60, up 0.10% from its previous close of 99.50.

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