Rupee Trades Little Changed Against US Dollar

rupee-india-gold silver reportsGold Silver Reports — The rupee on Thursday was trading little changed against the US dollar amid thin trade as traders avoided long positions ahead of a long weekend.  

At 2pm, the rupee was trading at 64.08 a dollar, up 0.05% from its Wednesday’s close of 64.11. The rupee opened at 64.03 a dollar and touched a high and a low of 64.03 and 64.09 respectively.

Markets will remain closed on Friday on account of Ganesh Chaturthi, ahead of the weekend.

Traders are also cautious ahead of the speeches from US Federal Reserve chair Janet Yellen and European Central Bank (ECB) president Mario Draghi at the Jackson Hole Symposium on 25 August and 26 August, respectively.

The benchmark Sensex index rose 0.08% or 24.45 points to 31,592.46. So far this year, it has risen over 18%.

The 10-year bond yield was at 6.535%, compared to its previous close of 6.538%. Bond yields and prices move in opposite directions.

So far this year, the rupee gained 6%, while foreign institutional investors (FIIs) bought $7.26 billion and $19.47 billion in equity and debt markets, respectively.

Asian currencies were trading higher. South Korean won was up 0.35%, Philippines peso 0.32%, China offshore 0.09%, Indonesian rupiah 0.04%, Singapore dollar 0.04% and Taiwan dollar 0.04%. However, Japanese yen was down 0.12%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.28, up 0.14% from its previous close of 93.147. — Neal Bhai Reports

Rupee trades little changed against US dollar | Neal Bhai Reports | Gold Silver Reports

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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