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Rupee strengthens slightly against US dollar on Asian cues

LiveMint logoLiveMint 19-06-2017 Ravindra N. Sonavane

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

The rupee opened at 64.40 a dollar. At 9.15am, the rupee was trading at 64.36 a dollar, up 0.10% from its Friday’s close of 64.43.

The 10-year bond yield was at 6.487% compared to its previous close of 6.489%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.11% or 33.58 points to 31,089.98. So far this year, it has risen 17%.

So far this year, the rupee has gained 5.25%, while foreign investors bought $8.34 billion and $13.44 billion in local equity and debt markets, respectively.

Asian currencies were trading higher as markets geared up ahead of Brexit negotiations between the UK and the European Union, and as French president Emmanuel Macron’s party won a parliamentary majority at the weekend.

South Korean won was up 0.43%, Philippines peso 0.19%, Malaysian ringgit 0.16%, Singapore dollar 0.1% and Taiwan dollar 0.08%. However, Indonesian rupiah was down 0.18% and Japanese yen fell 0.12%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.182, up 0.02% from its previous close of 97.164.

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