Rupee opens marginally higher, bonds at 6.982%

Mumbai: The Indian rupee on Monday strengthened marginally against the US dollar tracking gains in local equity markets.

At 9.10 am, the rupee traded at 69.43 a dollar, up 0.07% from its previous close of 69.47. The Indian had currency opened at 69.44 a dollar.

The benchmark Sensex index opened up 0.28% at 39,726.33 during the opening bell.

The 10-year bond yield was at 6.982% compared with Friday’s close of 6.974%. Bond yield and prices moves in opposite directions.

So far this year, the rupee has risen 0.43% against the US greenback. During the period, foreign investors bought $11.32 billion in Indian equities and $706 million in debt market.

Most emerging-market currencies fell, pushed down by the yuan after comments from China’s central bank Governor last week signaled the authorities may let the currency weaken.

China Renminbi was down 0.35%, Thai Baht 0.3%, Japanese yen 0.27%, Singapore dollar 0.26%, Philippines peso 0.18%, South Korean won 0.12%, China Offshore 0.12%, Malaysian ringgit 0.08%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 96.738, up 0.2% from its previous close of 96.544.