Rupee opens 3 paise higher against US dollar at 64.98

The rupee on Monday opened 3 paise up at 64.98 against dollar on account of selling of American currency by banks and exporters.

The local currency on Friday settled at 65.01 against the US dollar after Moody's upgraded the country’s sovereign rating.

Foreign portfolio investors stood net buyers in domestic equity markets on Friday and bought shares worth Rs 289.48 crore with gross purchases and gross sales of Rs 5,258.28 crore and Rs 4,968.80 crore, respectively.

Meanwhile, benchmark equity indices BSE Sensex and NSE Nifty index opened on a flat note. The 30-share Sensex opened 23.04 points, or 0.07 per cent, up at 33,365.84, while the 50-share Nifty index opened 3.60 points, or 0.04 per cent, up at 10,287.20.

Government bonds pared early gains to end lower, even after Moody’s Investors Service raised the sovereign credit rating. The benchmark yield posted its fifth weekly rise amid concerns that inflation will gain pace.

The GoI benchmark 6.79% 2027 bond yield declined to 7.05 per cent on Friday from 7.06 per cent in the previous session.