Mumbai: The Indian rupee strengthened against the US dollar ahead of the key macro data.
Rupee closed at 64.31 up 0.10% from its Thursday’s close of 64.38. The rupee opened at 64.32 a dollar and touched a high of 64.26 and a low of 64.38.
The government will issue Index of Industrial Production (IIP) for March and Consumer Price Index-based (CPI) inflation and Wholesale Price Index (WPI) for April, after 5.30pm.
According to a Bloomberg poll, CPI will be at 3.3% in April from 3.81% a month ago, and WPI will be 4.5% from 5.7% a month ago, IIP will be at 1.9% for March from 1.2% a month ago.
The benchmark Sensex index lost 0.21% or 62.83 points to close at 30,188.15 points. So far this year, it has risen 13.38%.
So far this year, the rupee has gained 5.62%, while foreign institutional investors have bought $6.35 billion and $8.2 billion from local equity and debt markets, respectively.
The 10-year bond yield was trading at 6.912% compared to its previous close of 6.942%. Bond yields and prices move in opposite directions.
Asian currencies were trading mixed. Philippines peso 0.205%, Indonesian rupiah 0.120%, Taiwan dollar 0.070%, Malaysian ringgit 0.064%, China renminbi 0.049%, South Korean won 0.038%. However, Singapore dollar 0.078, Thai baht 0.049% Hong Kong Dollar fell 0.050% and China offshore 0.001%. Japanese yen remain unchanged.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.634, up 0.01% from its previous close of 99.623