MUMBAI: The Indian rupee on Wednesday strengthened against the dollar, tracking gains in the Asian markets.
The local unit opened at 66.36 per dollar. At 9.08am, the home currency was trading at 66.33, up 0.33% from its previous close of 66.55.
Among Asian currencies,Taiwan dollar gained 0.824%, South Korean won 0.781%, Malaysian ringgit 0.738%, Philippines peso 0.269%, Singapore dollar 0.247%, Indonesian rupiah 0.133%, Thai baht 0.061% and Hong Kong dollar rose 0.001%. Meanwhile, Japanese yen lost 0.482% and Chinese renminbi 0.030%.
The Sensex index gained 1.44% or 365 points to 25,682.87 points in pre-opening trade.
The yield on India’s 10-year benchmark bond was trading at 7.75% compared with its Tuesday’s close of 7.77%. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has lost 4.96%, while foreign institutional investors have bought $10.13 billion from local equity and bond markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.047, up 0.06% from the previous close of 95.985.
