Rupee closes marginally lower against US dollar
The rupee closed at 64.52 a dollar, down 0.16% from its Thursday’s close of 64.41
Mumbai: The Indian rupee on Monday closed marginally weaker against the US dollar after local equity markets fell six out of seven trading sessions.
The rupee closed at 64.52 a dollar, down 0.16% from its Thursday’s close of 64.41. The rupee opened at 64.43 a dollar and touched a high and a low of 64.29 and 64.52, respectively.
The benchmark Sensex index fell 0.16% or 47.79 points to closed at 29,413.66. So far this year, it has risen 12%.
The wholesale price index-based inflation fell to 5.7% in March from 6.5% in February, mainly due to a fall in mineral and fuel prices, while food prices continued to rise.
The 10-year bond yield closed at 6.847% compared to its previous close of 6.822%. Bond yields and prices move in opposite directions.
So far this year, the rupee has gained 5.5%, while foreign institutional investors have bought $6.62 billion and $6.48 billion from local equity and debt markets, respectively.
Asian currencies were trading higher after the Good Friday holiday following a report that US inflation fell for the first time in more than a year.
Thai Baht was up 0.44%, Japanese yen 0.24%, South Korean won 0.18%, Singapore dollar 0.16%, China Offshore 0.08%, Taiwan dollar 0.07%, Malaysian ringgit 0.06%. However, Indonesian rupiah was down 0.09%, Philippines peso 0.07%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.29, down 0.22% from its previous close of 100.51.