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Rupee opens marginally higher against US dollar

Rupee opens marginally higher against US dollar

Fri Nov 03 2017


Indian rupee on Friday was trading marginally higher against the US dollar in the opening trade.


The rupee opened at 64.58 a dollar. At 9.15am, the home currency was trading at 64.55 against the dollar, up 0.07% from its Thursday’s close of 64.61.


The 30-share Sensex rose 0.22%, or 72.69 points, to 33,645.91. So far this year, the Sensex has gained 26.19%.


The 10-year bond yield was at 6.855% compared to its previous close of 6.861%. Bond yields and prices move in opposite directions.


So far this year, the rupee has gained 5.13%, while foreign institutional investors have bought $5.96 billion and $22.77 billion in equity and debt, respectively.


Asian currencies were trading mixed ahead of the US non-farm payrolls data. China offshore spot was down 0.14%, Singapore dollar 0.13%, China renminbi 0.1%, Thai baht 0.06%, Malaysian ringgit 0.06%. However, Indonesian rupiah was up 0.39%, South Korean won 0.16%, Philippines peso 0.16%, Taiwan dollar 0.07%, Japanese yen 0.05%.


The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.69, up 0.01% from its previous close of 94.685.


US President Donald Trump nominated Jerome Hayden Powell to the top job at the US central bank, a decision that was greeted with a shrug by investors who see the Fed governor as a continuity candidate. Powell has generally backed current chair Janet Yellen’s cautious approach to withdrawing stimulus, Bloomberg reported.



Tuesday, October 16, 2018
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