Indian Rupee trades marginally higher against U.S. Dollar, Stay Bearish only Below 69.60 Mark
The Indian rupee on Thursday strengthened marginally against the US dollar tracking gains in other Asian currencies.
The rupee traded at 69.74 a dollar, up 0.12% from its previous close of 69.83. The Indian had currency opened at 69.71 a dollar.
The benchmark Sensex index was up 0.37% at 39,619.43 points. Year to date, the index has risen 10%.
The 10-year bond yield was at 7.142% compared with Wednesday’s close of 7.126%.
Later today, Bharatiya Janata Party leader Narendra Modi will take oath as the country’ prime minister for a second term. Traders will eye the allotment of ministries to various leaders of the party and allies.
So far this year, the rupee has risen 0.1% against the US greenback. During the period, foreign investors bought $10.77 billion in Indian equities and sold $18.70 million in debt market.
Other Asian currencies also traded higher even as markets assessed the impact of persistent trade conflicts. The South Korean won was up 0.36%, Philippines peso 0.27%, Singapore dollar 0.12%, Thai Baht 0.07%, China Offshore 0.07%. However, Indonesian rupiah was down 0.24%, while Malaysian ringgit fell 0.08%.
