Rupee closes up 0.13% against US dollar

live mint-The rupee on Friday rebounded and closed at a one week high against the US dollar. The 10 year bond yield closed at a fresh one-month high. The rupee closed at 66.78 against the US dollar, a level last seen on 19 October, up 0.13% from its previous close of 66.87. The home currency opened at 66.90 against the US dollar. So far this year, it has fallen 0.93%. 479069878 The benchmark 10-year government bond yield closed at 6.794%, a level last seen on 30 September, compared with Thursday’s close of 6.793%. Bond yields and prices move in opposite directions. The US Federal Reserve will meet on 1-2 November and while most analysts do not expect it to raise interest rates in November, they anticipate an increase in December. Bank of Japan will also meet on 1 November. India’s benchmark BSE Sensex closed at 27,941.51 points, up 25.61 points, or 0.09%, from its previous close. So far this year, it has gained 7.3%. Foreign institutional investors (FIIs) have sold $578.70 million in debt and bought $7.06 billion in equity till date this year. Asian currencies closed mixed ahead of key US data that could pave the way for the Fed to raise rates this year. The Thai baht was up 0.28%, Taiwanese dollar 0.08%, Chinese renminbi 0.05% and Singapore dollar 0.04%. However, the Malaysian ringgit was down 0.35%, South Korean won 0.2% and Indonesian rupiah 0.14%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 98.824, down 0.07% from its previous close of 98.888. Opec members will meet on Friday and Saturday with energy officials from non-member countries.

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