Rupee closes little changed against US dollar
Mumbai: The Indian rupee on Tuesday erased all the morning gains and closed little changed against the US dollar after local equity markets fell nearly 180 points .
The rupee closed at 64.54 a dollar, down 0.03% from its Friday’s close of 64.52. The rupee opened at 64.43 a dollar and touched a high and a low of 64.41 and 64.54 respectively.
Stocks, bonds and currency markets were closed on Monday for a public holiday.
The 10-year bond yield closed at 6.463% compared to its previous close of 6.460%. Bond yields and prices move in opposite directions.
The benchmark Sensex index fell 0.58% or 179.96 points to closed at 30958.25. So far this year, it has risen 16.5%.
So far this year, the rupee has gained 5.28%, while foreign investors bought $8.23 billion and $14.02 billion in local equity and debt markets, respectively.
Asian currencies were trading mixed as investors fine-tune positions ahead of a speech by US Federal Reserve chair Janet Yellen.
Philippines peso was down 0.14%, Thai baht 0.07%, while Japanese yen and Taiwan dollar fell 0.03% each. However, China offshore was up 0.07%, South Korean won 0.05%, Singapore dollar 0.05% and Malaysian ringgit rose 0.03%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.397, down 0.03% from its previous close of 97.426.