Rupee closes weaker against US dollar
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Mumbai: The Indian rupee on Tuesday closed weaker against the US dollar tracking losses in its Asian peers.
The rupee closed at 64.50 a dollar, down 0.12% from its Monday’s close of 64.43. The rupee opened at 64.51 a dollar and touched a high and a low of 64.41 and 64.53 respectively.
The 10-year bond yield closed at 6.451% compared to its previous close of 6.467%. Bond yields and prices move in opposite directions.
The benchmark Sensex index fell 0.04% or 14.04 points to closed at 31,297.53. So far this year, it has risen 17%.
So far this year, the rupee has gained 5.25%, while foreign investors bought $8.24 billion and $13.60 billion in local equity and debt markets, respectively.
Asian currencies were trading lower following hawkish comments from US Federal Reserve Bank of New York president William Dudley.
Philippines peso was down 0.45%, South Korean won 0.25%, Malaysian ringgit 0.19%, China renminbi 0.17%, Taiwan dollar 0.14%, Indonesian rupiah 0.12%, Japanese yen 0.06%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.605, up 0.06% from its previous close of 97.548.
Dudley said he was confident the expansion had a long way to go, while Chicago’s Charles Evans said fundamentals are good, Bloomberg reported.