The yield on India’s 10-year benchmark bond was trading at 8.64%, compared with its Wednesday’s close of 8.66%. Photo: Pradeep Gaur/Mint
Mumbai: The Indian rupee on Thursday was trading marginally higher against the dollar, as gains were capped by weak Asian currencies.
At 9.12am, the home currency was trading at 60.05 per dollar, up 0.1% from previous close of 60.11. India’s benchmark equity index BSE Sensex was trading at 26,197.68 points on BSE, up 0.19%. The rupee had opened the session at 60.02 per dollar.
The yield on India’s 10-year benchmark bond was trading at 8.64%, compared with its Wednesday’s close of 8.66%. Bond yields and prices move in opposite directions.
The Reserve Bank of India (RBI) on Wednesday readjusted the debt investment limits for various kinds of foreign investors, allowing medium-term investors to invest an additional $5 billion, while reducing by the same quantum the limits for long-term investors in government bonds.
Most of the Asian currencies were trading lower against the dollar. The South Korean won was down 0.47%, Indonesian rupiah was down 0.22%, Philippines peso down 0.16%, Thai baht down 0.15%, Malaysian ringgit down 0.09%, Japanese yen down 0.07%, while Singapore dollar down 0.07%.
Since the beginning of this year, the rupee has gained 2.82% against the dollar, while foreign institutional investors have bought $11.91 billion during the period from local equity markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.825, up 0.01% from its previous close of 80.823.
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