Rupee Strengthens Marginally Against US Dollar

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Rupee strengthensGold Silver Reports — The rupee on Monday strengthened marginally against the US dollar in opening trade. The rupee opened at 63.93 a dollar. At 9.10am, the rupee was trading at 63.98 a dollar, up 0.09% from its Friday’s close of 64.03.

The 10-year bond yield was at 6.493%, compared to its previous close of 6.483%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.12% or 36.99 points to 31,929.22. So far this year, it has risen over 19%.

So far this year, the rupee has gained 6.3%, while foreign institutional investors (FIIs) bought $7.16 billion and $19.89 billion in equity and debt markets, respectively.

Asian currencies were trading lower after North Korea’s test of a nuclear bomb on Sunday. US President Donald Trump threatened to increase economic sanctions and halt trade with any nation doing business with North Korea.

South Korean won was down 0.61%, Indonesian rupiah 0.14%, Malaysian ringgit 0.09%, Thai baht 0.08%, Taiwan dollar 0.06% and Philippines peso fell 0.05%. However, Japanese yen was up 0.42%, China offshore 0.19% and China renminbi 0.16%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.653, down 0.18% from its previous close of 92.814.

On Friday, non-farm payrolls rose by 156,000, below the median estimate of 180,000, in a Bloomberg survey of economists, and revisions for the prior two months subtracted 41,000 jobs. — Neal Bhai Reports

Rupee strengthens marginally against US dollar | Neal Bhai Reports | Gold Silver Reports