Yields on 10-year government bonds were at 7.790% compared to Monday’s close of 7.776%. Photo: Mint
Mumbai: The Indian rupee strengthened for the second session against the US dollar on Monday, tracking gains in its Asian peers.
The home currency opened at 64.96 and touched a high of 64.94 a dollar. At 9.15am, the rupee was trading at 64.97, up 0.23% from its previous close of 65.11.
Yields on 10-year government bonds were at 7.790% compared to Monday’s close of 7.776%. Bond yields and prices move in opposite directions.
India’s benchmark Sensex index rose 0.53% or 178.83 points to 33,925.61. So far this year, Sensex has fallen 0.5%.
Year to date, the rupee weakened 1.8%, while foreign investors have bought $172.80 million and $877.50 billion in equity and debt markets, respectively.
Asian currencies were trading higher amid a rebound in risk appetite driven by speculation that US President Donald Trump will soften his proposed trade tariffs.
South Korean won was up 0.61%, Taiwan dollar 0.17%, China renminbi 0.13%, Thai baht 0.13% and Singapore dollar rose 0.05%. However, Japanese yen was down 0.2%, Philippines peso 0.06% and China offshore 0.05%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 89.967, down 0.13% from its previous close of 90.08.
