Rupee closes marginally lower against US dollar
Mumbai: The rupee on Monday weakened marginally against the US dollar tracking losses in the Asian currencies markets.
The rupee closed at 63.93 a dollar, down 0.16% from its Friday’s close of 63.79. The rupee opened at 63.88 a dollar and touched a high and a low of 63.84 and 63.93 respectively.
Asian currencies were trading lower after the US dollar rebounded from a 2015 low amid easing concern over Hurricane Irma and as the United Nations prepared to vote on tougher North Korean sanctions, Bloomberg reported.
Japanese yen was down 0.5%, China offshore 0.29%, China renminbi 0.14%, Malaysian ringgit 0.1%, Philippines peso 0.07% and Singapore dollar 0.06%. However, Indonesian rupiah was up 0.29% and Thai baht 0.05%.
The 10-year bond yield closed at 6.562% compared to its previous close of 6.543%. Bond yields and prices move in opposite directions.
The benchmark Sensex index rose 0.61% or 194.64 points to closed at 31,882.16. So far this year, it has risen over 19%.
So far this year, the rupee has gained 6%, while foreign institutional investors bought $6.63 billion and $20.28 billion in equity and debt respectively.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.5, up 0.16% from its previous close of 91.352.
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