Rupee trades higher at 65.64 against US dollar

Mumbai: The Indian rupee on Tuesday opened marginally higher against the US dollar from its previous close.

At 9.07am, the home currency was trading at 65.64, up 0.12% from its previous close of 65.74. The local unit opened at 65.67 per dollar.

The benchmark Sensex index rose 0.38% or 100.45 points to 26,293.43 points.

The yield on India’s 10-year benchmark bond was trading flat at 7.702%. Bond yields and prices move in opposite directions.

Since the beginning of this year, the rupee has lost 4%, while foreign institutional investors (FIIs) have bought $4.13 billion from local equity and $6.1 billion from bond markets.

Most Asian currencies were trading lower. Thai baht was down 0.3%, Taiwan dollar 0.28%, Malaysian ringgit 0.25%, Singapore dollar 0.16%, South Korean won 0.14%, Philippines peso 0.1% and China renminbi 0.07%. However, Japanese yen was up 0.16%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.802, down 0.1% from its previous close of 95.894.

Asian shares rose on Tuesday and the dollar held steady as the US markets bounced back and the European Central Bank said it was prepared to ease the monetary policy further, Reuters reported.