Rupee strengthens against US dollar ahead of key macro data

livemint-The Indian rupee strengthened against the US dollar ahead of the key macro data. At 9.08am, the currency was trading at 64.33 up 0.08% from its Thursday’s close of 64.38. The rupee opened at 64.32 a dollar and touched a high of 64.30 and a low of 64.34. The government will issue Index of Industrial Production (IIP) for March and Consumer Price Index-based (CPI) inflation and Wholesale Price Index (WPI) for April, after 5.30pm. Rupee strengthens against US dollar According to a Bloomberg poll, CPI will be at 3.3% in April from 3.81% a month ago, and WPI will be 4.5% from 5.7% a month ago, IIP will be at 1.9% for March from 1.2% a month ago.   The benchmark Sensex index gained 0.11% or 34.63 points to 30,285.61 points. So far this year, it has risen 13.74%. So far this year, the rupee has gained 5.63%, while foreign institutional investors have bought $6.35 billion and $8.2 billion from local equity and debt markets, respectively. The 10-year bond yield closed at 6.938% compared to its previous close of 6.942%. Bond yields and prices move in opposite directions.   Asian currencies were trading mixed. Japanese yen was up 0.158%, Indonesian rupiah 0.09%, China renminbi 0.039%, China offshore 0.028%, Malaysian ringgit 0.023%, Philippines peso 0.010% and Thai baht 0.009%. Singapore dollar was trading down 0.142%, South Korean won 0.121% Taiwan dollar 0.010% and Hong Kong Dollar fell 0.030%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.566, down 0.06% from its previous close of 99.623.

Read More :

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

COPYRIGHT © 2017. Pramod Baviskar. Dalal street winners advisory and coaching services. FAQ | Disclaimer | Privacy Policy

This website is best viewed using Microsoft Internet Explorer 9 or higher, and/or latest version of Google Chrome and Mozila Firefox browsers.