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Rupee strengthens marginally against US dollar

LiveMint logoLiveMint 22-08-2017 Ravindra N. Sonavane

Mumbai: The rupee on Tuesday strengthened marginally against the US dollar tracking gains in the Asian currencies markets.

The rupee opened at 64.09 a dollar. At 9.15am, the rupee was trading at 64.07 a dollar, up 0.07% from its Monday’s close of 64.14.

Traders are cautious ahead of the speeches from US Federal Reserve chair Janet Yellen and European Central Bank (ECB) president Mario Draghi at the Jackson Hole Symposium on 25 August and 26 August, respectively.

The benchmark Sensex index rose 0.46% or 144.33 points to 31,403.18. So far this year, it has risen over 18%.

The 10-year bond yield was at 6.515%, compared to its previous close of 6.51%. Bond yields and prices move in opposite directions.

So far this year, the rupee gained 5.90%, while foreign institutional investors (FIIs) bought $7.35 billion and $19.06 billion in equity and debt markets, respectively.

Asian currencies were trading higher. South Korean won was up 0.22%, China renminbi 0.14%, China offshore 0.09%, Taiwan dollar 0.08% and Indonesian rupiah 0.07%. However, Japanese yen was down 0.28% and Philippines peso fell 0.11%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.172, up 0.08% from its previous close of 93.095

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