Rupee closes marginally weaker against US dollar

The rupee closed at 66.88 against US dollar, down 0.05% from its previous close of 66.85

Ravindra N. Sonavane
Updated10 Feb 2017, 05:11 PM IST
The rupee opened at 66.83 a dollar and touched a high and a low of 66.82 and 66.99, respectively. Photo: AFP
The rupee opened at 66.83 a dollar and touched a high and a low of 66.82 and 66.99, respectively. Photo: AFP

Mumbai: The Indian rupee on Friday closed marginally weaker against the US dollar ahead of the key macro economic data. Traders are also cautious ahead of a meeting between US President Donald Trump and Japanese Prime Minister Shinzo Abe.

The home currency closed at 66.88, down 0.05% from its previous close of 66.85. The local currency opened at 66.83 a dollar and touched a high and a low of 66.77 and 66.99 respectively..

The government will issue index of industrial production (IIP) data for December on Friday while consumer price inflation data for January on Monday. The Wholesale price inflation data will be out on 14 February for January

According to Bloomberg analyst poll, IIP will be at 1.4% in December from 5.7% a month ago. CPI expected to come at 3.24% in January month from 3.41% a month ago. Analyst estimates, WPI will be at 4.34% from 3.39% a month ago.

India’s 10-year bond yield closed at 6.805%, from its Thursday’s close of 6.857%. Bond yields and prices move in opposite directions.

India’s benchmark Sensex index rose 0.02% or 4.55 points to closed at 28,334.25. So far this year, Sensex has risen 6.5%.

Since the beginning of this year, the rupee has gained 1.55%, while foreign institutional investors have bought $147.30 million and $130.20 million from local equity and debt markets respectively.

Asian currencies were trading lower after US President Trump said a “phenomenal” plan to overhaul business taxes may be released over the next two to three weeks.

Japanese yen was down 0.42%, South Korean won 0.42%, China renminbi 0.18%, Singapore dollar 0.17%, Malaysian ringgit 0.14%, Indonesian rupiah 0.11%, China offshore 0.1%, Taiwan dollar 0.07%, Philippines peso 0.06%, Thai baht 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.81, up 0.16% from its previous close of 100.65.

Federal Reserve Bank of St. Louis President James Bullard said the central bank ought not rush to raising interest rates next month because uncertainty over the Trump administration’s fiscal policies clouds the US economic outlook.

The policy-making Federal Open Market Committee (FOMC) next meets 14 to 15 March in Washington, Bloomberg reported

.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess

News in Numbers

Numbers that help you understand news better
₹588.25 Cr

₹20,000 Cr

7.93 Cr

₹8,943 Cr

20 Yrs

First Published:10 Feb 2017, 05:11 PM IST
HomeMarketStock-market-newsRupee closes marginally weaker against US dollar

Most Active Stocks

Bharat Electronics

313.50
03:59 PM | 18 JUL 2024
-12.85 (-3.94%)

Oil & Natural Gas Corporation

331.20
03:59 PM | 18 JUL 2024
8.8 (2.73%)

Zee Entertainment Enterprises

142.45
03:59 PM | 18 JUL 2024
-13 (-8.36%)

Tata Steel

166.35
03:56 PM | 18 JUL 2024
-0.7 (-0.42%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

India Cements

344.75
03:54 PM | 18 JUL 2024
21.7 (6.72%)

IDBI Bank

92.19
03:59 PM | 18 JUL 2024
4.27 (4.86%)

Endurance Technologies

2,679.00
03:29 PM | 18 JUL 2024
102.4 (3.97%)

Gillette India

8,002.75
03:29 PM | 18 JUL 2024
275 (3.56%)
More from Top Gainers

Trending In Market Value Up Icon

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    75,099.00-147.00
    Chennai
    74,659.00-440.00
    Delhi
    74,512.00-294.00
    Kolkata
    75,539.0073.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.76/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts