Last Modified: Wed, Jan 03 2018. 05 05 PM IST

Rupee closes lower against US dollar

The rupee closed at 63.53 a dollar, down 0.07% from its Tuesday’s close of 63.48

The 10-year bond yield was at 7.32% compared to its previous close of 7.38%. Photo: HT
Ravindra N. Sonavane

Mumbai: The Indian rupee ended marginally lower against US dollar ahead of the minutes of the Federal Reserve’s December policy meeting due later on Wednesday.

The home currency closed at 63.53 a dollar, down 0.07% from its Tuesday’s close of 63.48. The rupee opened at 63.58 a dollar and touched a high and a low of 63.46 and 63.58, respectively.

According to a Bloomberg report, the minutes of the Federal Open Market Committee meeting will be scrutinized closely to further assess how close the Fed is to potentially shifting the planned pace of tightening.

In the year 2017, the rupee gained 6.35% and Sensex rose 28%, while foreign institutional investors have bought $7.73 billion and $23.27 billion in equity and debt, respectively.

The 10-year bond yield ended at 7.32% compared to its previous close of 7.38%. Bond yields and prices move in opposite directions.

The benchmark Sensex fell 0.06%, or 18.88 points, to 33,793.38 points.

Asian currencies were trading higher. Thai baht was up 0.46%, Indonesian rupiah 0.29%, Taiwan dollar 0.19%, Malaysian ringgit 0.13%, China offshore 0.09%, Philippines peso 0.09%. However, South Korean won was down 0.3%, China renminbi 0.12%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.074, up 0.22%, from its previous close of 91.872.

Topics: RupeeUS dollartradingforexrupee vs dollar

First Published: Wed, Jan 03 2018. 09 21 AM IST

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