Rupee opens Little Changed against US Dollar

Gold Silver Reports – The Indian rupee on Friday opened little changed against the US dollar as traders avoided taking long positions ahead of a long weekend. Markets will remain closed on Monday due to Christmas.

The rupee opened at 64.06 a dollar. At 9.15am, the home currency was trading at 64.05 a dollar, up 0.02% from its Thursday’s close of 64.06.

The 10-year bond yield was at 7.210%, compared to its previous close of 7.214%. Bond yields and prices move in opposite directions.

The benchmark Sensex rose 0.23%, or 79.10 points, to 33,835.38. So far this year, it has gained 27%.

So far this year, the rupee has gained 6%, while foreign institutional investors have bought $7.91 billion and $23.03 billion in equity and debt, respectively.

Read More: Rupee opens flat against US dollar at 64.57

Asian currencies were trading mixed. South Korean won was up 0.31%, Taiwan dollar 0.11%, China renminbi 0.1%, Indonesian rupiah 0.04%. However, Malaysian ringgit was down 0.28%, Philippines peso 0.11%, China offshore 0.08%, Singapore dollar 0.07% and Thai baht fell 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.382, up 0.11%, from its previous close of 93.278. – Neal Bhai 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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