MUMBAI: The Indian rupee on Monday strengthened against the dollar, tracking gains in Asian currencies.
The local unit opened at 63.48 per dollar. At 9.07am, the home currency was trading at 63.53, up 0.04% from its previous close of 63.56.
The Sensex index gained 0.41% or 111.02 points to 27,427.19 points in pre-opening trade.
Among Asian currencies, South Korean won gained 0.609%, Malaysian ringgit gained 0.295%, Indonesian rupiah gained 0.173%, Taiwan dollar gained 0.156%, Philippine peso gained 0.127% and Singapore dollar gained 0.075%.
The yield on India’s 10-year benchmark bond was trading at 7.69% compared with its Friday’s close of 7.71%. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has lost 0.74%, while foreign institutional investors have bought $12.58 billion from local equity and bond markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.971, down 0.12% from its previous close of 94.085.
