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Business News/ Market / Stock-market-news/  Rupee closes weaker against US dollar
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Rupee closes weaker against US dollar

The rupee closed at 64.43 a dollar, down 0.22% from its Wednesday's close of 64.28

The rupee closed at 64.43 a dollar, down 0.22% from its Wednesday’s close of 64.28. Photo: MintPremium
The rupee closed at 64.43 a dollar, down 0.22% from its Wednesday’s close of 64.28. Photo: Mint

Mumbai: The Indian rupee on Thursday weakened against the US dollar tracking losses in its Asian peers.

The rupee closed at 64.43 a dollar, down 0.22% from its Wednesday’s close of 64.28. The rupee opened at 64.34 a dollar and touched a high and a low of 64.33 and 64.46 respectively.

The 10-year bond yield closed at 6.452%, compared to its previous close of 6.449%. Bond yields and prices move in opposite directions.

The benchmark Sensex index fell 0.16% or 50.95 points to closed at 31,904.40. So far this year, it has risen 20%.

So far this year, the rupee has gained 5.43%, while foreign investors bought $8.56 billion and $16.48 billion in local equity and debt markets, respectively.

Asian currencies were trading lower as traders wait to see whether European policy makers will echo the Bank of Japan’s decision earlier Thursday to keep its monetary stimulus program unchanged.

The ECB will announce its interest rates and asset-purchase target at 1:45 p.m. Frankfurt time. Economists surveyed by Bloomberg expect no change in those instruments, and are split on whether the central bank will drop its pledge to increase the size and/or duration of quantitative easing if needed.

South Korean won was down 0.45%, China Renminbi 0.27%, Japanese yen 0.18%, Thai Baht 0.16%, China Offshore 0.15%, Singapore dollar 0.14%, Taiwan dollar 0.13%, Malaysian ringgit 0.11%, Indonesian rupiah 0.09%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.009, up 0.24% from its previous close of 94.779.

Bloomberg contributed this story

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Published: 20 Jul 2017, 09:12 AM IST
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