Mumbai: The Indian rupee on Wednesday was trading marginally higher against the US dollar in opening trade.
The rupee opened at 63.66 a dollar. At 9.15am, the home currency was trading at 63.67 a dollar, up 0.07% from its Tuesday’s close of 63.72.
The benchmark Sensex rose 0.30%, or 103.07 points, to 34,546.26.
Traders are cautious ahead of the Index of Industrial Production (IIP) data for November and Consumer Price Index (CPI) data for December on 12 January. According to Bloomberg analysts’ estimates, IIP will be at 4% in November from 2.2% a month ago, while CPI will be at 5.04% in December from 4.88% a month ago.
In the year 2017, the rupee gained 6.35% and Sensex rose 28%, while foreign institutional investors have bought $7.73 billion and $23.27 billion in equity and debt, respectively.
The 10-year bond yield was at 7.419% compared to its previous close of 7.344%. Bond yields and prices move in opposite directions.
Asian currencies were trading higher. Japanese yen was up 0.36%, Thai baht 0.23%, China offshore 0.1% and China renminbi rose 0.08%. However, South Korean won was down 0.23% and Taiwan dollar fell 0.09%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.402, down 0.14% from its previous close of 92.528.