Rupee breaches 64-mark against dollar in early trade

• NEW DELHI: The rupee continued its firming trend on Wednesday and was trading 27 paise higher at 64 against the greenback in early trade on sustained dollar unwinding by exporters and companies.The domestic currency breached the 64 mark against the dollar and hit its highest level since August 10, 2015.

• The rupee opened 7 paise higher at 64.19 against the dollar compared with the Tuesdays close of 64.27.Domestic equity market opened in the green following firm Asian cues.

• The 30-share BSE Sensex hit a fresh all-time high of 30,030 in opening trade, while NSEs Nifty50 was trading above the 9,330 mark.Foreign portfolio investors stood net sellers in the domestic equity market, as they offloaded shares worth Rs 226.89 crore with gross purchases and gross sales of Rs 4,049 crore and Rs 4,276 crore, respectively.Sovereign bonds rose for the first time in four sessions on Tuesday, as investors bought these notes to benefit from the recent price decline.

• However, an auction of the benchmark note later this week and the RBIs deployment of tools to mop up excess liquidity kept the underlying sentiment muted.The benchmark 6.97% 2026 bond yield stayed almost unchanged at 6.94 per cent in Tuesdays session.

• In the past three months, the rupee has jumped over 6 per cent and emerged top performer in Asia.

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