Rupee closes at two-week low against US dollar
Mumbai: The Indian rupee on Tuesday weakened for the third session to closed at over two week low against the US dollar.
The rupee closed at 64.13 a dollar—a level last seen on 21 August, down 0.13% from its Monday’s close of 64.05. The rupee opened at 64.12 a dollar. and touched a high and a low of 64.09 and 64.16, respectively.
The 10-year bond yield ended at 6.5%, compared to its previous close of 6.496%. Bond yields and prices move in opposite directions.
The benchmark Sensex index rose 0.34% or 107.30 points to closed at 31,809.55. So far this year, it has risen over 18%.
So far this year, the rupee has gained 5.9%, while foreign institutional investors (FIIs) bought $7.05 billion and $19.90 billion in equity and debt markets, respectively.
Asian currencies were trading mixed. Japanese yen was up 0.19%, South Korean won 0.16%, Malaysian ringgit 0.15%, Singapore dollar 0.11%, Philippines peso 0.1%, However, China Offshore was down 0.45%, China renminbi 0.33%, Taiwan dollar 0.08%, Thai Baht 0.07%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.664, up 0.03% from its previous close of 92.635.
Traders are cautious ahead of the Federal Reserve Board member Lael Brainard who will speak on the economic outlook and monetary policy on Tuesday and the European Central Bank meeting on Thursday.