Rupee opens marginally higher against US dollar

Rupee opens marginally higher against US dollar

Mumbai: The rupee on Monday strengthened marginally against the US dollar, tracking gains in the Asian currencies market.

The home currency opened at 64.07 a dollar. At 9.15am, the rupee was trading at 64.04 a dollar, up 0.06% from its Friday’s close of 64.08.

On Friday, the Reserve Bank of India reported current account deficit (CAD) data that soared to a four-year high of $14.3 billion, or 2.4% of the gross domestic product (GDP), in the June quarter as gold imports picked up ahead of the implementation of the goods and services tax (GST). In the March quarter of 2016-17, CAD was 0.6% of the GDP at $3.4 billion.

Bond yields hit a fresh 15-week high. The 10-year bond yield was at 6.607% compared to its previous close of 6.597%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.30% or 95.83 points to 32,368.44. So far this year, it has risen over 21.09%.

So far this year, the rupee has gained 6%, while foreign institutional investors (FIIs) have bought $6.61 billion and $20.33 billion in equity and debt, respectively.

Asian currencies were trading higher as dollar weakened after US Secretary of State Rex Tillerson said his country is seeking a peaceful resolution to end the nuclear standoff with North Korea.

South Korean won was up 0.41%, Philippines peso 0.17%, Malaysian ringgit 0.14%, Singapore dollar 0.13%, China renminbi 0.08% and Thai baht 0.05%. However, Japanese yen was down 0.33% and Taiwan dollar 0.06%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.869, down 0.01% from its previous close of 91.872.

Comments

Post a Comment

Popular posts from this blog

JCB India launches its new 3DX ecoXPERT

Image
JCB India launches its new 3DX ecoXPERT Designed to give significant savings in Fuel and Maintenance Integrated with “IntelliPerformance” India’s leading manufacturer of Earthmoving and Construction Equipment, JCB India launched its all new 3DX ecoXPERT Backhoe Loader in Bhopal.With JCB’s ‘IntelliPerformance’ technology, which efficiently manages the energy demands of the machine, the intelligent new 3DX ecoXPERT saves fuel and reduces maintenance costs, thus leading to significant savings.Mr. Subir Kumar Chowdhury, Managing Director & CEO of JCB India says, “We are delighted to have launched our new Backhoe Loader, the 3DX ecoXPERT. This new machine is designed to give up to 12% savings on fuel and up to 22% savings on maintenance. Equipped with ‘IntelliPerformance’ technology the machine comes with advanced telematics called JCB Livelink which enables real-time fleet management of equipment for our customers. JCB has pioneered in integrating Smart technologies such as Internet o
Read more

Dr. Reddy’s Laboratories announces the first generic launch , Delayed Release Tablets in the U.S. Market

Image
Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries together referred to as “Dr. Reddy’s”) today announced the first-to-market launch of Naproxen and Esomeprazole Magnesium Delayed-Release Tablets, a therapeutic equivalent generic version of Vimovo ® (Naproxen and Esomeprazole Magnesium) Delayed-Release Tablets approved by the U.S. Food and Drug Administration (USFDA).“This launch is a testament to our core strengths in areas of research and development and intellectual property,” says Marc Kikuchi, Chief Executive Officer, North America Generics. “We are excited to be a part of forming the first generic market for Vimovo ®  Tablets and to provide an affordable treatment alternative for patients.” The Vimovo ® (Naproxen and Esomeprazole Magnesium) Delayed-Release Tablets brand had U.S. sales of approximately $414 million MAT for the most recent twelve months ending in December 2019 according to IQVIA Health*.Dr. Reddy’s Naproxen and Esome
Read more