Rupee opens at 66.20 per US dollar
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Mumbai: The Indian rupee on Friday opened marginally lower but soon erased all the losses and was trading little changed against the US dollar in thin trade.
The local currency opened at 66.20 per US dollar and touched a high and low of 66.16 and 66.21, respectively. At 9.12am, the rupee was trading at 66.16 per US dollar, down 0.01% from its previous close of 66.15. In 2015, rupee weakened 4.7%.
India’s benchmark equity index, BSE Sensex, was trading at 26,101.50 points, down 0.06% or 16.04 points.
In 2015, foreign institutional investors bought $3.11 billion from local equity markets and $7.39 billion from the debt market.
India’s fiscal deficit reached Rs.4.84 trillion during April-November, or 87% of the full-year target, government data showed on Thursday. The deficit was 98.9% of the full-year target during the same period a year ago.
India’s infrastructure output shrank 1.3% on year in November, its first fall in seven months, dragged down by a sharp slowdown in electricity production and a contraction in cement and steel output, government data showed on Thursday.
The yield on India’s 10-year benchmark bond stood at 7.769% compared with its Thursday’s close of 7.761%. Bond yields and prices move in opposite directions.
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