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Business News/ Market / Stock-market-news/  Rupee closes 8 paise higher at 60.06 per dollar
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Rupee closes 8 paise higher at 60.06 per dollar

The local unit opened at 60.25 and touched a high and a low of 60.05 and 60.25 per dollar, respectively

The yield on India’s 10-year benchmark bond ended at 8.513%, compared with its Monday’s close of 8.435%. Photo: Mint Premium
The yield on India’s 10-year benchmark bond ended at 8.513%, compared with its Monday’s close of 8.435%. Photo: Mint

The Indian rupee erased all its losses and closed higher on Wednesday, tracking local equity markets.

The home currency ended at 60.06, up 0.13% from Monday’s close of 60.14. India’s benchmark index S&P BSE Sensex ended at 26,087.42 points, up 0.37%.

The local unit opened at 60.25 and touched a high and a low of 60.05 and 60.25 per dollar, respectively.

Most Asian currencies ended lower. Malaysian ringgit fell 0.25%, Thai baht slipped 0.22%, Japanese yen shed 0.14%, Philippines peso dropped 0.10%, Singapore dollar lost 0.1% and Indonesian rupiah gave up 0.08%.

The yield on India’s 10-year benchmark bond ended at 8.513%, compared with its Monday’s close of 8.435%. Bond yields and prices move in opposite directions.

Since the beginning of this year, the rupee has gained 2.9%, while foreign institutional investors have bought $12.13 billion during the period from local equity markets.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 81.298, up 0.10% from the previous close of 81.214.

Markets were closed on Tuesday for Eid.

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Published: 30 Jul 2014, 09:20 AM IST
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