Mumbai: The Indian rupee on Tuesday strengthened against US dollar tracking gains in Asian currencies market.
The rupee opened at 64.88 a dollar. At 9.15am, the home currency was trading at 64.90 a dollar, up 0.22% from its Monday’s close of 65.03.
Benchmark Sensex index rose 0.11%, or 38.55 points, to 33,827.09. So far this year, it has declined 1%.
The 10-year bond yield was at 7.247% compared to its previous close of 7.226%. Bond yields and prices move in opposite directions.
Traders are cautious as the Federal Open Market Committee releases minutes of its 20-21 March meeting on Wednesday, at which central bankers raised their target rate a quarter-point for overnight bank lending.
So far this year, the rupee has fallen 1.76%, while foreign investors have bought $2.17 billion and $638.90 million in equity and debt markets, respectively.
Asian currencies were trading higher as a conciliatory speech from Chinese President Xi Jinping eased trade tensions with the US.
China offshore spot was up 0.2%, China renminbi 0.19%, Philippines peso 0.19%, South Korean won 0.16%, Philippines peso 0.16%, Thai baht 0.13%, Taiwan dollar 0.1%, Singapore dollar 0.07%, Indonesian rupiah 0.05%. However, Japanese yen was down 0.32%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 89.884, up 0.05% from its previous close of 89.838.