Mumbai: The Indian rupee on Wednesday logged its biggest single-session gain against the US dollar in over three weeks, as a rebound in global equities and currencies buoyed sentiment.

The home currency closed at 67.69, up 0.40% from its previous close of 67.95, posting its maximum gain since 6 June. The local currency opened at 67.80 a dollar and touched a high of 67.61, a level last seen on 23 June.

Asian currencies extended the rally post-Brexit vote battering, with traders pushing back expectations for any near-term rate increase by the Fed.

South Korean won rose 0.96%, Malaysian ringgit 0.91%, Singapore dollar 0.37%, China offshore 0.36%, Indonesian rupiah 0.24%, Taiwan dollar 0.22%, Japanese yen 0.1%, Philippines peso 0.1% and Thai baht added 0.06%.

India’s benchmark Sensex index rose 0.81%, or 215.84 points, to close at 26,740.39. So far this year, the Sensex is up 2.38%.

The government will issue fiscal deficit data for the month of May on 30 June. Fiscal deficit in April came in at Rs.1.37 lakh crore, which is 25.7% of the Budget estimate for 2016-17.

So far this year, the rupee is down 2.26%, while foreign institutional investors (FIIs) have bought $2.75 billion in equity and sold $1.98 billion in debt markets.

The 10-year bond yield has fallen in 10 out of 12 trading sessions. On Wednesday, the yield closed at seven-week low of 7.444%—a level last seen on 12 May—compared with Tuesday’s close of 7.452%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.881, down 0.38% from its previous close of 96.245.

Source:.livemint.com