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Business News/ Market / Stock-market-news/  Rupee closes weaker against US dollar ahead of retail inflation data
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Rupee closes weaker against US dollar ahead of retail inflation data

The rupee closed at 67.02, down 0.2% from its previous close of 66.88

The rupee opened at 66.91 a dollar and touched a high and a low of 66.90 and 67.04, respectively. Photo: Hindustan TimesPremium
The rupee opened at 66.91 a dollar and touched a high and a low of 66.90 and 67.04, respectively. Photo: Hindustan Times

Mumbai: The Indian rupee weakened marginally against the US dollar ahead of the key consumer price inflation (CPI) data, which will be released after 5.30pm on Monday.

The home currency closed at 67.02, down 0.2% from its previous close of 66.88. The local currency opened at 66.91 a dollar and touched a high and a low of 66.90 and 67.04, respectively.

According to a Bloomberg analyst poll, CPI will be at 3.24% in January from 3.41% a month ago. The wholesale price inflation data for January will be out on 14 February. Analyst estimates, WPI will be at 4.34% from 3.39% a month ago.

India’s 10-year bond yield closed at 6.828%, from its Friday’s close of 6.805%. Bond yields and prices move in opposite directions.

India’s benchmark Sensex index rose 0.06% or 17.37 points to closed at 28,351.62. So far this year, Sensex has risen 6.5%.

Since the beginning of this year, the rupee has gained 1.34%, while foreign institutional investors have bought $236.70 million and $145.70 million from local equity and debt markets respectively.

Asian currencies were trading weaker as attention shifted to Donald Trump’s promise of a “phenomenal" tax plan after the US President refrained from criticizing Japan’s currency policy during Prime Minister Shinzo Abe’s two-day visit.

Japanese yen was down 0.47%, China offshore 0.16%, Malaysian ringgit 0.1%, Indonesian rupiah 0.1%, South Korean won 0.08%, Singapore dollar 0.06%. However, Taiwan dollar was up 0.34% while Thai baht 0.06%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.63—down 0.17% from its previous close of 100.80

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Published: 13 Feb 2017, 09:28 AM IST
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