Rupee opens higher at 62.31 per dollar

The partially convertible rupee opens at 62.31 per dollar compared with its previous close of 62.39

The yield on India’s 10-year benchmark bond was trading at 8.725%, compared with its Thursday’s close of 8.718%. Photo: Mint

Mumbai: The Indian rupee on Thursday opened higher tracking Asian currencies.

It opened at 62.31 a dollar against its Thursday’s close of 62.39. The South Korean won was up 0.41%, the Philippines peso spot up 0.2% and the Indonesian rupiah spot was up 0.15%.

At 9.08am, the local unit was trading at 62.32, up 0.11% from previous close. India’s benchmark index, Sensex is trading at 20,441.04 points, up 0.64%.

The yield on India’s 10-year benchmark bond was trading at 8.725%, compared with its Thursday’s close of 8.718%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.867, down 0.05% from the previous close of 80.906.

On Friday, the government will release advance estimates of economic growth for the year ended 31 March after 5.30pm. Median analysts estimates of Bloomberg show the Indian economy will grow by 4.7%.

Rahul Kumar

PGDM 1ST YEAR