MUMBAI: The Indian rupee on Tuesday was trading higher for the sixth consecutive sessions against the US dollar, tracking the gains in the local equity markets.
At 9.21 am, the home currency was trading at 65.26, up 0.07% from its previous close of 65.30. The local unit opened at 65.27 per US dollar.
The benchmark Sensex index rose 0.33% or 87.79 points to 26,873.84 points. Since 28 September to till date, Sensex gained over 4.9% or 1,256.5 points.
Most Asian currencies were trading mixed. Indonesian rupiah was up 1.57%, South Korean won 0.58% and Philippines peso rose 0.16%. However, Singapore dollar was down 0.25%, Thai baht 0.22%, and Taiwan dollar and Japanese yen were down 0.05% each.
The yield on India’s 10-year benchmark bond was trading at 7.521% compared with its Monday’s close of 7.513%. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has lost 3.46%, while foreign institutional investors (FIIs) have bought $3.62 billion from local equity and $6.31 billion from bond markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.104, down 0.01% from its previous close of 96.106.
On Tuesday, the Nikkei-Markit service and composite PMI (Purchasing Managers Index) data will be released at 10.30am for September. The service and composite PMI were at 51.8 and 52.6, respectively, in August.
