Rupee opens lower at 60.1 per dollar

The partially convertible rupee opens at 60.1 per dollar compared with its previous close of 60.06 

 

Fri, May 09 2014 

Since the beginning of this year, the rupee has gained 2.85% against the dollar, while foreign institutional investors have bought $5.47 billion from local equity markets. Photo: Pradeep Gaur/Mint 

Mumbai: The Indian rupee on Friday opened marginally lower tracking mixed trend in Asian currencies market. The local currency opened at 60.1 per dollar against its Thursday’s close of 60.06.

Most of the Asian currencies were trading mixed. The Philippines peso was trading up 0.93%, Malaysian ringgit was up 0.41%, Thai baht was down 0.22%, and the Japanese yen was down 0.06%.

Since the beginning of this year, the rupee has gained 2.85% against the dollar, while foreign institutional investors have bought $5.47 billion from local equity markets.

The yield on India’s 10-year benchmark bond was trading at 8.75%, compared with its Thursday’s close of 8.75%. Bond yields and prices move in opposite directions.

At 9.08am, the rupee was trading at 60.09 per dollar, down 0.04% from its previous close, while India’s equity benchmark Sensex index was trading at 22,368.06 points on BSE, up 0.06%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 79.468, up 0.13% from the previous close of 79.361.

 

HIMANSHU CHAUDHARY

 

PGDM 1ST YR