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Rupee closes 10 paise stronger against US dollar at 66.55 |
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Mumbai: The Indian rupee on Monday strengthened against the US dollar after local equity markets gained for the fourth consecutive session.
The home currency closed at 66.55, up 0.14% from its previous close of 66.65. The rupee opened at 66.64 a dollar and touched a high and a low of 66.52 and 66.71, respectively in intraday trade.
India’s Wholesale Price Index (WPI) fell for the 17th straight month in March, declining by an annual 0.85%, driven down by tumbling prices of oil and manufactured goods, the government data showed.
India’s benchmark Sensex rose 0.74%, or 189.61 points, to close at 25,816.36. In the last four trading sessions, the Sensex has gained 4.63%, or 1,142.52 points. So far this year, the Sensex has fallen 1.15%.
The stock market will remain closed on Tuesday for Mahavir Jayanti.
India’s 10-year bond yield closed at 7.417% as compared with its Wednesday’s close of 7.435%.
So far this year, the rupee weakened 0.60%, while foreign institutional investors bought $1.14 billion from local equity and sold $547.80 million in debt markets.
Asian currencies closed lower. Malaysian ringgit was down 0.67%, South Korean won 0.37%, Taiwan dollar 0.19%, Philippines peso 0.12% while China renminbi, China offshore were down 0.05% each. However, Japanese yen was up 0.46%, Singapore dollar 0.16%, Indonesian rupiah and Thai baht were up 0.06% each..
The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.595, down 0.10% from its previous close of 94.696.
Source : livemint.com
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