MUMBAI: The Indian rupee on Tuesday strengthened against the US dollar, as traders pared their dollar positions and were awaiting further celerity on Greece’s debt payment to the International Monetary Fund (IMF).
The deadline for Greece to repay its €1.6 billion loan to the IMF is 30 June.
The local unit opened at 63.76 per dollar. At 9.16am, the home currency was trading at 63.77, up 0.14% from its previous close of 63.85.
The Sensex was trading at 27,627.39, down 0.06% or 17.76 points.
Most of the Asian currencies were trading higher. Taiwan dollar was trading up 0.55%, South Korean won was up 0.5%, Japanese yen 0.24%, Indonesian rupiah 0.05%. However, Singapore dollar and Philippines peso were down 0.08% each.
Greece will not pay a €1.6 billon loan instalment due to the International Monetary Fund on Tuesday, a Greek government official told Reuters, after talks between Athens and its creditors broke down over the weekend when Prime Minister Alexis Tsipras called a surprise referendum on the austerity plan.
Greece will hold referendum on 5 July on creditor proposals for reforms in exchange for loans.
The yield on India’s 10-year benchmark bond was trading flat at 7.89%. Bond yields and prices move in opposite directions.
