Mumbai: The Indian rupee on Tuesday was trading marginally higher against the US dollar in the opening trade, tracking gains in Asian currencies markets.
The rupee opened at 64.83 a dollar and touched a high of 64.79. At 9.15am, the home currency was trading at 64.80 against the dollar, up 0.08% from its Monday’s close of 64.85.
Traders are cautious ahead of the US Federal Reserve meeting and a key US data release later in the week.
The BSE benchmark index fell 0.22%, or 72.10 points, to 33,194.06. So far this year, the Sensex has gained 25%. The 10-year bond yield was at 6.869% compared to its previous close of 6.805%. Bond yields and prices move in opposite directions.
So far this year, the rupee has gained 4.5%, while foreign institutional investors have bought $5.80 billion and $22.48 billion in equity and debt, respectively.
Asian currencies were trading higher. South Korean won was up 0.33%, China renminbi 0.20%, Malaysian ringgit 0.13%, Taiwan dollar 0.12%, Indonesian rupiah 0.07%. However, Hong Kong dollar was down 0.04%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.572, up 0.01% from its previous close of 94.56.