Since the beginning of this year, the rupee has gained 2.62% against the dollar. Photo: Mint
Mumbai: The Indian rupee on Friday opened higher against the dollar. The local currency opened at 60.23 against its Wednesday’s close of 60.34.
Since the beginning of this year, the rupee has gained 2.62% against the dollar, while foreign institutional investors have bought $5.2 billion from local equity markets.
The yield on India’s 10-year benchmark bond was trading at 8.81%, compared with its Wednesday’s close of 8.83%. Bond yields and prices move in opposite directions.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 79.56, up 0.04% from its previous close of 79.52.
At 9.10am, the rupee was trading at 60.25 per dollar, up 0.16% from its previous close, while India’s equity benchmark Sensex index was trading at 22,493.59 points on BSE, up 0.34%.
The markets were shut due to Labour Day on Thursday.
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