Mumbai: The Indian rupee strengthened against the dollar on Wednesday. The rupee closed at 62.055 per dollar, up 0.5% from its previous close of 62.37 per dollar. The domestic currency had opened at 62.45 per dollar. Since January this year, the rupee has weakened 11.38% against the dollar and is the third biggest loser among Asian currencies after the Indonesian rupiah and the Japanese yen during that period. The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.641, up 0.07% from the previous close of 80.591. India’s benchmark Sensex ended at 20708.71 points, down 0.70% or 146.21 points from the previous close. The yield on India’s 10-year benchmark bond ended at 8.779%, compared with its Tuesday’s close of 8.771%.

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