Rupee up by 34 Paise to end at 69.43 against Dollar rises to 5-month high

Indian rupee today strengthened against the US dollar, tracking gains in some Asian currencies. The rupee today settled at 69.43, up 34 paise from its previous close of 69.77. This was the highest close of the rupee since early August.

Rupee kicked off 2019 on a resounding note, building up on gains of the previous two sessions and adding another 34 paise on Tuesday to close at 69.43 against the US dollar on increased selling of the greenback by exporters and smart gains in domestic equities.

The domestic unit has rallied by a hefty 92 paise in the last three trading sessions. Traders said sustained selling of the American currency by exporters and banks propped up the rupee.

At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 69.63. It gained further to hit a high of 69.43 following dollar selling by exporters, before finally closing at 69.43, up 34 paise.

The 10-year bond yield stood at 7.42%, higher than its Monday’s close of 7.369%. Bond yields and prices move in opposite directions. Benchmark index Sensex gained 0.52% or 186 points to 36,254.57 points. In 2018, the Indian stock market index had gained 6.67%.

 

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