Rupee trades higher at 67.77 against US dollar.

Mumbai: The Indian rupee on Wednesday strengthened against the US dollar, tracking gains in the global markets.

The local currency opened at 67.80 a dollar. At 9.12am, the home currency was trading at 67.77, up 0.26% from its previous close of 67.95.

Asian currencies were trading higher following gains across the US and Europe as investors looked for bargains after the Brexit sell-off.

South Korean won was up 0.47%, Malaysian ringgit 0.44%, Japanese yen 0.28%, Indonesian rupiah 0.21%, Philippines peso 0.12% and Taiwan dollar rose 0.05%. However, Thai baht was down 0.1% and China renminbi fell 0.08%.

India’s benchmark Sensex index rose 0.39% or 102.60 points to 26,627.15. So far this year, Sensex is up 1.6%.

The government will issue fiscal deficit data for the month of May on 30 June. Fiscal deficit in April came in at Rs.1.37 lakh crore, which is 25.7% of the Budget estimate for 2016-17.

So far this year, the rupee is down 2.41%, while foreign institutional investors (FIIs) have bought $2.75 billion in equity and sold $1.98 billion in debt markets.

Meanwhile, India’s 10-year bond yield was trading at 7.445%, compared with Tuesday’s close of 7.452%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.136, down 0.12% from its previous close of 96.245.

Source : livemint.com​