Rupee opens marginally higher against US dollar

Mumbai: The Indian rupee on Wednesday opened marginally higher against US dollar tracking gains in its Asian peers.

The rupee opened at 64.03 a dollar. At 9.15am, the home currency was trading at 64.02 a dollar, up 0.04% from its Tuesday’s close of 64.04.

The benchmark Sensex rose 0.31%, or 103.82 points, to 33,940.56. So far this year, it has gained 27%.

The 10-year bond yield was at 7.192%, compared to its previous close of 7.134%. Bond yields and prices move in opposite directions.

So far this year, the rupee has gained 6.07%, while foreign institutional investors have bought $8.34 billion and $22.97 billion in equity and debt, respectively.

Asian currencies were trading higher. South Korean won was up 0.29%, China offshore 0.17%, Malaysian ringgit 0.14%, China renminbi 0.12% and Philippines peso rose 0.07%. However, Thai baht was down 0.16% and Japanese yen dropped 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.433, down 0.01%, from its previous close of 93.441.