Rupee opens flat at 60.11 per dollar

Mumbai: The Indian rupee traded flat against the dollar on Thursday even as other Asian currencies strengthened after poor US growth data weakened dollar globally.

The home currency opened at 60.11 per dollar from its Wednesday’s close of 60.13.

The yield on India’s 10-year benchmark bond was trading at 8.69%, compared with its Wednesday’s close of 8.705%. Bond yields and prices move in opposite directions.

Asian currencies were trading higher against the dollar, led by South Korean won, which was up 0.36%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.181, down 0.05% from its the previous close of 80.22.

At 9.11am, the rupee was trading at 60.15, down 0.03%, while India’s equity benchmark Sensex index was trading at 25,217.69 points on BSE, down 0.4%.

Since the beginning of this year, the rupee has gained 2.79% against the dollar, while foreign institutional investors have bought $9.85 billion from local equity markets.