Mumbai: The rupee weakened marginally against the US dollar ahead of the key consumer price inflation (CPI) and index of industrial production (IIP) data due after 5.30pm on Tuesday.

The home currency closed at 64.04 a dollar, down 0.17% from its Monday’s close of 63.93. The rupee opened at 63.98 a dollar and touched a high and a low of 63.94 and 64.05, respectively.

The government will issue IIP and CPI data for the month of July and August, respectively. According to Bloomberg analysts’ estimates, IIP will be at 1.7% in July versus -0.1% last month, while CPI will be 3.27% in August compared to 2.36% a month ago.

The government will also issue wholesale price inflation (WPI) on Wednesday for the month of August. According to Bloomberg analysts, WPI will be at 3.2% in August compared to 1.88% in July.

The 10-year bond yield closed at 6.555% compared to its previous close of 6.562%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.87% or 276.50 points to closed at 32,158.66. So far this year, it has risen over 19%.

So far this year, the rupee has gained 6.25%, while foreign institutional investors bought $6.61 billion and $20.30 billion in equity and debt, respectively.

Asian currencies were trading lower. Indonesian rupiah was down 0.43%, China renminbi 0.24%, Malaysian ringgit 0.17%, China offshore 0.15% and Philippines peso fell 0.07%. However, South Korean won was up 0.11%, Singapore dollar 0.07% and Japanese yen rose 0.06%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.886, up 0.01% from its previous close of 91.875.

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