Mumbai: The Indian rupee was little changed against the US currency on Monday. Dealers said the currency markets are hopeful of improvements in the domestic economic scenario on expected stability at the Centre post the ongoing general elections. The rupee closed at 60.65, down 0.04% from previous close of 60.625. The currency, which opened at 60.6325 per dollar, traded in a band of 60.44 and 60.74 per dollar. BSE’s benchmark Sensex fell 0.25% to 22,631.61 points. The rupee has gained 1.9% this year as foreign institutional investors bought local equities worth $5 billion. Last week, the rupee had lost 0.55% against the dollar. The yield on India’s 10-year benchmark bond ended at 8.857%, compared with Friday’s close of 8.888% . It touched a high and a low of 8.894% and 8.857%, respectively. The dollar index, which measures the US currency’s strength against major currencies, was trading at 79.588, down 0.2% from the previous close of 79.749.

Source