Mumbai: The rupee was trading largely steady and stronger from its Wednesday’s levels against the dollar, enthused by an assurance from the Reserve Bank of India (RBI) that the apex bank will ensure adequate liquidity in the banking system by buying bonds from the secondary market, if need be. At 2.26pm, the partially convertible rupee was trading at 62.205 against the dollar, up 0.37% from the previous close of 62.435. The Indian currency, which opened at 62.295 in the morning, rose to 62.125 in the intra-day trade. Since January this year, the rupee has weakened 11.59% and is the third biggest loser in Asia after the Indonesian rupiah and Japanese yen. The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.473, up 0.17% from the previous close of 80.334. The 30-share benchmark index of BSE, the Sensex, rose 0.49%, or 98.24 points, to 19,954.48 points, while the National Stock Exchange’s broader 50-share index, the Nifty, rose 0.46%, or 26.80 points, to 5,900.65 points. The yield on the 10-year benchmark bond rose to 8.711% from the previous close of 8.793%. It opened at 8.695%. Bond prices and yields move in opposite directions.

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