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Business News/ Market / Stock-market-news/  Rupee erases intraday gains, closes flat against US dollar at 67.95
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Rupee erases intraday gains, closes flat against US dollar at 67.95

The Indian rupee erases all intraday gains to close flat against the US dollar, as month-end dollar demand from oil importers soaked up the dollar supply

India’s 10-year bond yield closed at 7.452%, compared with Monday’s close of 7.458%. Photo: Pradeep Gaur/MintPremium
India’s 10-year bond yield closed at 7.452%, compared with Monday’s close of 7.458%. Photo: Pradeep Gaur/Mint

Mumbai: The Indian rupee on Tuesday erased all intraday gains and closed flat against the US dollar, as month-end dollar demand from oil importers soaked up the dollar supply.

The home currency closed at 67.95, unchanged from its previous close. The local currency opened at 67.81 a dollar and touched a high and a low of 67.72 and 67.96, respectively.

So far this year, the rupee has fallen 2.64%, while foreign institutional investors (FIIs) have bought $2.76 billion in equity and sold $2 billion in debt markets.

India’s benchmark Sensex index rose 0.46%, or 121.59 points, to close at 26,524.55. So far this year, the Sensex has gained 1.56%.

Meanwhile, India’s 10-year bond yield closed at 7.452%, compared with Monday’s close of 7.458%.

Asian currencies closed higher. Indonesian rupiah was up 1.24%, South Korean won 0.95%, Singapore dollar 0.65%, Malaysian ringgit 0.54%, Philippines peso 0.29%, Taiwan dollar 0.26%, Thai baht 0.17% and China offshore 0.12%. However, Japanese yen was down 0.32%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.93, down 0.64% from its previous close of 96.544.

European Union lawmakers said the UK should trigger the process for seceding from the EU “as soon as possible," increasing pressure on British Prime Minister David Cameron hours before he meets fellow leaders of the bloc, according to Bloomberg report.

The European Parliament said any lengthy UK delay in activating negotiations on an exit from the 28-nation EU must be avoided “to prevent damaging uncertainty for everyone and to protect the union’s integrity". The EU assembly made the appeal in a non-binding resolution approved on Tuesday in Brussels, the report added.

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Published: 28 Jun 2016, 09:32 AM IST
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