| Date: |
22-05-2015 |
| Subject: |
Rupee opens higher at 63.58 per dollar |
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Mumbai: The Indian rupee on Friday gained marginally against the dollar ahead of the Reserve Bank of India (RBI) monetary policy early next month, as dealers awaited fresh economic data to take dollar positions.
The local unit opened at 63.58 per dollar. At 9.11am, the home currency was trading at 63.59, up 0.07% from its previous close of 63.64.
The Sensex index gained 0.14% or 40.19 points to 27,849.54 points in pre-opening trade.
Among Asian currencies, Malaysian ringgit gained 0.340%, Taiwan dollar gained 0.414%, South Korean won gained 0.288%, Philippine peso gained 0.061%, Singapore dollar gained 0.270%, Thai Bhat gained 0.093%, Hong Kong dollar gained 0.008% and Japanese yen gained 0.157%, while Indonesian rupiah lost 0.133% and Philippines peso lost 0.121%.
The yield on India’s 10-year benchmark bond was trading at 7.87% compared with its Thursday’s close of 7.87%. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has lost 0.94%, while foreign institutional investors have bought $12.81 billion from local equity and bond markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.219, down 0.04% from the previous close of 95.255.
Source : livemint.com
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