Mumbai: The Indian rupee on Tuesday strengthened marginally against US dollar tracking gains in the local equity markets.
At 9.15am, the home currency was trading at 66.41 against US dollar, up 0.13% from its Monday’s close of 66.48. The rupee opened at 66.44 a dollar.
In last one month, Sensex gained nearly 5.7% or 1,855 points. Benchmark Sensex Index rose 0.1% or 30.83 points to 34,481.60 points. Year to date, it’s up 1.2%.
Yields on 10-year government bond stood at 7.728% from its previous close of 7.74%. Bond yields and prices move in opposite directions.
So far this year, the rupee has fallen 3.8%, while foreign investors have bought $1.51 billion and sold $1.10 billion in equity and debt markets, respectively.
Asian currencies were under pressure as dollar index reached a 3-month high as US 10-year yields rose to within a whisker of 3%, a key level that some observers see as potentially opening the door to much higher levels.
South Korean won was down 0.73%, Malaysian ringgit 0.27%, Japanese yen 0.08%, Taiwan dollar 0.08%, and China Offshore 0.08%. However, Indonesian rupiah was up 0.55%, Thai Baht 0.19% and Philippines peso 0.12%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 90.93, down 0.02% from its previous close of 90.946.
Bloomberg contributed this story.