Mumbai: The rupee on Thursday opened flat against the dollar on weak Asian currencies. The Indian currency opened at 62.78 per dollar compared with its previous close of 62.7813.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.97, up 0.18% from its previous close of 99.795.
The equity benchmark S&P BSE Sensex was also trading higher by 0.61%, or 174.67 points in opening trade. Major Asian currencies were trading lower.
The South Korean won lost 0.732%, Indonesian rupiah was down 0.219%, Taiwan dollar 0.199%, Japanese yen 0.14% and the Thai baht 0.109%. India’s 10-year bond yield was trading at 7.76% compared with its Wednesday’s close of 7.762%. Bond yields and prices move in opposite directions. Since the beginning of this year, the rupee has gained 0.42% against the dollar, while foreign institutional investors have bought $11.14 billion from local equity and bond markets.
