The rupee opened 11 paise higher at 64.27 against dollar on Monday on account of buying of American currency by banks and exporters.On the further movement of rupee, Angel Broking said, “USDINR spot is likely to trade sideways to higher on Monday as fading risk concerns with respect to French Elections will prompt the traders to place fresh bets.”The local currency on Friday settled 20 paise down at 64.38 against the US dollar.Meanwhile, domestic equity markets opened in green following firm Asian cues. The 30-share BSE Sensex was trading 56.32 points, or 0.19 per cent, up at 29915.12, while the 50-share NSE Nifty index was up 23.85 points, or 0.26 per cent, up at 9,304.Government bonds rose, as a plunge in crude oil prices raised expectations of lower inflation in Asia’s third largest economy.The benchmark 6.97% 2026 bond yield declined to 6.94 per cent from 6.97 per cent.Foreign portfolio investors sold shares worth Rs 140.16 crore on Friday with gross purchases and gross sales of Rs 6023.42 crore and Rs 6163.58 crore, respectively.

Source: Economic Times May 08, 2017 04:08 UTC