Rupee opens Marginally lower Against US Dollar

The Indian rupee on Thursday weakened marginally against the US dollar in the opening trade.

The rupee opened at 65.26 a dollar. At 9.15am, the home currency was trading at 65.31 against the dollar, down 0.16% from its Wednesday’s close of 65.21.

The 10-year bond yield was at 7.010% compared to its previous close of 7.017%. Bond yields and prices move in opposite directions.

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The benchmark Sensex index rose 0.16%, or 54.02 points, to 32,814.46 points. So far this year, it has gained 24%.

So far this year, the rupee has gained 4.16%, while foreign institutional investors have bought $7.69 billion and $22.37 billion in equity and debt, respectively.

Asian currencies were trading mixed. China renminbi was down 0.18%, Malaysian ringgit 0.10%, Japanese yen and China offshore were down 0.08% each. However, South Korean won was up 0.63%, Taiwan dollar 0.11% and Philippines peso 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.872, up 0.06% from its previous close of 93.813.