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Rupee trades lower at 59.11 per dollar

LiveMint logoLiveMint 28-05-2014 Ravindra Sonavane

Mumbai: The Indian rupee on Wednesday opened lower against the dollar tracking mixed Asian currency markets. The local currency opened at 59.11 per dollar against its Tuesday’s close of 59.04.

Since the beginning of this year, the rupee has gained 4.52% against the dollar, while foreign institutional investors have bought $7.68 billion from local equity markets.

The yield on India’s 10-year benchmark bond was trading at 8.66%, compared with its Tuesday’s close of 8.67%. Bond yields and prices move in opposite directions.

At 9.07am, the rupee was trading at 59.17 per dollar, down 0.21% from its previous close, while India’s equity benchmark Sensex was trading at 24,606.68 points on BSE, up 0.23%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.33, down 0.02% from the previous close of 80.35.

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