Rupee opens 9 paise higher at 63.99 against US dollar

The rupee on Wednesday opened 9 paise higher at 63.99 against dollar on account of selling of American currency by banks and exporters amid sustained inflows by foreign institutional investors.

On today movement of rupee, Angel Commodities in a research note said, “USDINR spot is likely to appreciate owing to weak US Dollar index amid concerns about cyber attack worldwide and weak housing data from the US.”

The local currency on Tuesday settled 3 paise down at 64.08 against dollar.

Meanwhile, domestic equity markets opened on a flat note following mixed global cues. The BSE Sensex opened 33.93 points, or 0.11 per cent, up at 30,616.53, while the 50-share NSE Nifty index opened 5.35 points, or 0.06 per cent, up at 9,517.60.

Foreign portfolio investors bought Rs 384.73 crore of shares in domestic equity markets on Wednesday with gross purchases and gross sales of Rs 4,730.79 crore and Rs 4346.06 crore, respectively.

Government bonds fell for the first time in three days on Tuesday, as profit booking set in following a recent rally triggered by retail inflation easing to a five-year low.

The benchmark 6.97% 2026 bond yield declined to 6.67 per cent from 6.81 per cent in the previous session due to increased hopes of a rate cut.