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Rupee strengthens against US dollar on Asian cues

LiveMint logoLiveMint 14-06-2017 Ashwin Ramarathinam

Mumbai: The Indian rupee on Wednesday strengthened against the US dollar, tracking the gains in Asian currencies markets.

At 09.09am, the rupee was trading at 64.32 a dollar, up 0.04% from its Tuesday’s close of 64.34. The rupee opened at 64.34 a dollar and touched a high and a low of 64.31 and 64.34, respectively.

The benchmark Sensex index gained 0.14% or 44.20 points to 31,147.69. So far this year, it has risen 16.98%.

So far this year, the rupee has gained 5.61%, while foreign investors bought $7.67 billion and $12.91 billion in local equity and debt markets, respectively.

The 10-year bond yield closed at 6.502% compared to its previous close of 6.494%. Bond yields and prices move in opposite directions.

Asian currencies were trading higher. South Korean won rose 0.170%, Philippines peso 0.129%, Thai baht 0.062%, China renminbi 0.028%, Japanese yen lost 0.027%, Indonesian rupiah 0.015% and Malaysian Ringgit gained 0.012%. However, Hong Kong dollar 0.083%, China offshore 0.029%, Taiwan dollar 0.066% and Singapore dollar 0.087% were trading lower.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.962, down 0.01% from its previous close of 96.975.

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