Rupee closes lower against US dollar
The rupee ended at 67.87 against the US dollar, down 0.66% from its previous close of 67.43
Mumbai: The Indian rupee on Tuesday weakened against the US dollar, tracking losses in Asian currencies. Month-end dollar demand from importers also impacted the currency, Bloomberg reported.
The home currency ended at 67.87 against the US dollar, down 0.66% from its previous close of 67.43. The currency opened at 67.62 a dollar and touched a low of 68 a dollar.
The 10-year bond yield closed at 7.756% from its Monday’s close of 7.738%. Bond yields and prices move in opposite directions.
So far this year, the rupee has weakened 5.8%, while foreign investors have sold $139.40 million and $4.40 billion in equity and debt markets, respectively.
Benchmark Sensex Index fell 0.61% or 216.24 points to 34949.24. Since January, it has gained 3%.
Asian currencies fell in holiday-hit trading as investors eyed rising political risks in Europe. Philippines peso was down 0.35%, Thai baht 0.35%, South Korean won 0.3%, China renminbi 0.25%, China offshore 0.25%, Taiwan dollar 0.14%, Singapore dollar 0.07%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.37, down 0.06% from its previous close of 94.418.
Bloomberg contributed this story