At 2 pm, the rupee was trading at 72.55 a dollar, up 0.07% from its previous close of 72.60

The rupee on Friday strengthened against the US dollar, tracking gains from Asian currency markets. At 2 pm, the rupee was trading at 72.55 a dollar, up 0.07% from its previous close of 72.60. The currency opened at 72.52 a dollar, touching a high 72.49 and a low 72.66.

The 10-year gilt yield stood at 8.018%, down from its Thursday’s close of 8.027%. Bond yields and prices move in opposite directions.

The benchmark Sensex index lost 0.20% or 72.87 points to 36251.30 points in afternoon trade. Since January, it has gained 6.44%.

So far this year, the rupee has weakened 11.97% and is the worst performer among Asian currencies. Foreign investors have sold $1.92 billion and $9.42 billion in equity and debt markets, respectively, since January.

Asian currencies were trading higher. The South Korean won gained 0.306%, Thai baht 0.285%, Philippine peso 0.220%, China Offshore 0.158%, Indonesian rupiah 0.141%, Taiwan dollar 0.141%, China renminbi 0.106% Singapore dollar 0.066% and Malaysian ringgit 0.068%. However, the Hong Kong dollar lost 0.112% and the Japanese yen lost 0.079%.

source: livemint.com