Mumbai: The Indian rupee gained 0.07% against the US currency in line with other emerging markets currencies after US FOMC meeting minutes showed the US central bank will most likely not revise its monthly bond buying programme further southwards than it has originally planned. The US Federal Reserve currently purchases $85 billion a month in bond, which it will cut down to $75 billion starting January. Numbers also showed that the US unemployment rate could be easing and the world’s largest economy could be en route to a recovery, boosting dollars. At 2.15pm, the local currency was trading at 62.0325, up 0.07% from its previous close of 62.075. The domestic currency had opened at 62.225 a dollar. Since January, the rupee has weakened 0.37%, and has recovered better than its peers, being the sixth biggest loser among major Asia currencies. The dollar index, which measures the US currency’s strength against major global currencies, was trading at 80.928, against its previous close of 81.022. The 30-share BSE Sensex lost 0.09% to trade at 20710.67 points while the National Stock Exchange’s (NSE’s) broader 50-share Nifty index lost 0.21% to trade at 6161.70 points. The yield on the 10-year government bond trading at 8.784%, from its previous close of 8.802%. The interbank call money rate was trading at 8.45%.

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