Rupee opens higher against dollar

Mumbai: The rupee on Friday opened higher against the US dollar, tracking gains in Asian currencies.

At 9.03 am, the home currency was trading at 62.325, up 0.14% from its previous close of 62.41. Majority of the Asian currencies were trading up. 

 

The yield on India’s 10-year benchmark bond dropped from 8.726% to 8.705%.

Since January this year, the rupee has lost 11.76% against dollar and is the biggest loser among Asian currencies after the Indonesian rupiah and the Japanese yen.

Later in the day, the government is slated to release data on fiscal deficit for the month of October and gross domestic product (GDP) for the quarter ended 30 September.

India’s GDP grew by 4.4% in the June quarter.

 

Source- Live Mint

 

Shah Mohammad Abdul Qadir

PGDM 1st Semester

IIMT College Of Management 

Greater  Noida, UP