Rupee edges lower against US dollar
At 9.10am, the rupee was trading at 73.56 a dollar, down 0.15% from its Monday’s close of 73.45. The currency opened at 73.49 a dollar
Mumbai: The Indian rupee on Tuesday weakened marginally against the US dollar, tracking mixed Asian currencies. At 9.10am, the rupee was trading at 73.56 a dollar, down 0.15% from its Monday’s close of 73.45. The currency opened at 73.49 a dollar. The 10-year gilt yield stood at 7.826% from its previous close of 7.81%. Bond yields and prices move in opposite directions. Benchmark Sensex rose 0.18% or 61.10 points to 34,128.50 points. Year to date, it has rose 0.02%.
So far this year, the rupee has declined 12.83%, while foreign investors have sold $5.06 billion and $8.56 billion in the equity and debt markets, respectively.
Asian currencies were trading mixed after a report the U.S. could levy more tariffs on China if talks between presidents Donald Trump and Xi Jinping fail to ease the trade war.
Japanese yen was down 0.24%, Indonesian rupiah 0.12%, China Renminbi 0.08%, Philippines peso 0.04%. However, South Korean won was up 0.07%, Singapore dollar, China Offshore and Thai Baht were up 0.04% each.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.649, up 0.07% from its previous close of 96.579.
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