LM:Rupee gains 0.54% against dollar in afternoon trade
Mumbai: The Indian rupee strengthened on Monday on worldwide dollar weakness and positive stock market cues.
At 2pm local time, the rupee was trading at 60.74 per dollar, up 0.54% from its previous close of 61.10. It opened at 61.03 and touched a high of 60.72 in intra-day trade.
Since January, the rupee has weakened 9.46% against the dollar.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 81.772, down 0.17% from the previous close of 81.908. Currencies in the region also strengthened against the dollar.
India’s benchmark Sensex was trading at 19,174.22, up 0.05%.
Yields on the 10-year bond was at 8.151%, down from its previous close of 8.265%, mirroring US treasury yields. Bond prices rise as yields fall. The overnight call money rate was at 8.25%, from its previous close of 7%.
