Mumbai: The Indian rupee inched up against the US dollar on Monday. Sentiment on the rupee was helped by a positive HSBC Manufacturing Purchasing Managers’ Index (PMI), which bounced to 51.4 in January, its highest since March, from 50.7 in the previous month.
The local currency closed at 62.575 per dollar, up 0.13%, from the previous close of 62.6575. Earlier, the unit had opened at 62.705 per dollar. It touched a high and a low of 62.56 and 62.7887, respectively.
The local stock market has lost 1,164.4 points since 23 January. It closed at 20,209.26 points, down 1.48%, or 304.59 points, from the previous close.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 81.131, down 0.22% from the previous close of 81.311
The yield on India’s 10-year benchmark bond ended at 8.735% as compared with its previous close of 8.781%. It opened at 8.773% and touched a high and a low of 8.78% and 8.727%, respectively.
