Rupee closes at 15-month low against US dollar
The rupee closed at 67.32 against US dollar, down 0.07% from its previous close of 67.28
Mumbai: The Indian rupee on Thursday closed at a fresh 15-month low against US dollar as rising oil prices spur fears inflation will accelerate and the current-account deficit will widen.
The home currency closed at 67.32 against US dollar, down 0.07% from its previous close of 67.28. The currency opened at 66.33 and touched a low of 67.44 a dollar.
The 10-year bond yield ended at 7.715%, up from its previous close of 7.709%. Bond yields and prices move in opposite directions.
Oil prices rose to the highest level since late 2014 after US President Donald Trump said the US will withdraw from the Iran nuclear deal, a move that was seen as raising the chances of another Mideast war and testing Washington’s relations with Europe.
Since start of April, foreign investors in both equity and debt sold a combined $4 billion. So far this year, they have bought $844.80 million and sold $2.57 billion in equity and debt markets, respectively.
Benchmark Sensex Index fell 0.21% or 73.08 points to 35246.27. Since start of January, it gained 3%.
Asian currencies were trading mixed. South Korean won was up 0.46%, Singapore dollar 0.11%, Philippines peso and Japanese yen were up 0.05% each. However, Indonesian rupiah was down 0.23%, Malaysian ringgit 0.13%, Taiwan dollar and China renminbi were down 0.07% each.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.009, down 0.04% from its previous close of 93.04.