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So far this year, the rupee has declined nearly 13% against the US dollar. Photo: Reuters
So far this year, the rupee has declined nearly 13% against the US dollar. Photo: Reuters

Rupee opens lower against US dollar

At 9.15am, the rupee was trading at 73.36 a dollar, down 0.05% from its Friday’s close of 73.33.

Mumbai: Indian rupee on Monday opened marginally lower against US dollar tracking losses in its Asian peers. At 9.15am, the home currency was trading at 73.36 a dollar, down 0.05% from its Friday’s close of 73.33. The currency opened at 73.41 a dollar.

The 10-year gilt yield stood at 7.93% from its previous close of 7.922%. Bond yields and prices move in opposite directions.

Benchmark Sensex rose 0.80% or 275.17 points to 34,590.80 points. Year to date, it has risen 0.76%.

So far this year, the rupee has declined 12.89%, while foreign investors have sold $4.46 billion and $8.67 billion in the equity and debt markets, respectively.

Most Asian currencies declined as geopolitical developments left investors cautious, while the dollar remained at elevated levels.

Thai Baht was down 0.14%, Philippines peso 0.14%, China renminbi 0.05%. However, Singapore dollar was up 0.05%, Taiwan dollar and South Korean won were up 0.02% each.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.673, down 0.04% from its previous close of 95.713.

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