Mumbai: The Indian rupee on Tuesday strengthened against US dollar after local equity markets closed stronger for the fourth consecutive session.
The home currency ended at 64.89 a dollar, up 0.32% from its Monday’s close of 65.10. The rupee opened at 65.11 a dollar and touched a high of 64.89 a dollar.
The Sensex rose 0.36%, or 118.45 points, to 33,478.35 points. So far this year, it has gained 25.5%.
Traders will keep eye on minutes from fed’s latest policy meeting which will be out on Wednesday.
The 10-year bond yield closed at 6.896%, compared to its previous close of 6.89%. Bond yields and prices move in opposite directions.
So far this year, the rupee has gained 4.5%, while foreign institutional investors have bought $8.24 billion and $22.33 billion in equity and debt, respectively.
Asian currencies were trading higher. South Korean won was up 0.43%, Malaysian ringgit 0.23%, Thai baht 0.17%, China offshore 0.15%, Singapore dollar 0.12%, Japanese yen 0.09%, China renminbi 0.05%, Taiwan dollar 0.04%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.080, up 0.01% from its previous close of 94.08.