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Rupee strengthens marginally against US dollar

LiveMint logoLiveMint 21-07-2017 Ravindra N. Sonavane

Mumbai: The Indian rupee on Friday strengthened marginally against the US dollar, tracking gains in the local equity markets.

The rupee opened at 64.39 a dollar. At 9.15am, the rupee was trading at 64.38 a dollar, up 0.07% from its Thursday’s close of 64.43.

The 10-year bond yield was at 6.449%, compared to its previous close of 6.452%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.37% or 90.87 points to 31,995.27. So far this year, it has risen 20%.

So far this year, the rupee has gained 5.42%, while foreign investors bought $8.72 billion and $16.61 billion in local equity and debt markets, respectively.

Asian currencies were trading mixed as traders were cautious on a Bloomberg report saying US special counsel investigating possible ties between the Donald Trump campaign and Russia in last year’s election is examining a broad range of transactions involving Trump’s businesses as well as those of his associates.

South Korean won was up 0.26%, Philippines peso 0.15%, Thai baht 0.09% and Indonesian rupiah 0.05%. However, Taiwan dollar was down 0.14%, China offshore 0.1%, China renminbi 0.09% and Singapore dollar 0.06%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.305, down 0.01% from its previous close of 94.306.

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