Rupee closes unchanged against US dollar
Mumbai: Indian Rupee on Friday closed unchanged against the US dollar as traders avoided taking long positions amid volatile domestic equity markets.
The rupee closed at 64.45 a dollar, unchanged from its Thursday’s close of 64.45. The rupee opened at 64.43 a dollar and touched a high and a low of 64.42 and 64.47 respectively.
The 10-year bond yield ended at 6.464%, compared to its previous close of 6.456%. Bond yields and prices move in opposite directions.
Wholesale price index (WPI)-based inflation fell to 0.90% in June compared to 2.17% a month ago. According to analysts polled by Bloomberg had forecast WPI at 1.39%.
The benchmark Sensex index fell 0.05% or 16.63 points to 32,020.75. So far this year, it has risen 20.32%.
So far this year, the rupee has gained 5.3%, while foreign investors bought $8.37 billion and $16.16 billion in local equity and debt markets, respectively.
Asian currencies were trading lower. Philippines peso was down 0.13%, Taiwan dollar 0.13%, Japanese yen 0.12%, Malaysian ringgit 0.08%, South Korean won 0.06%, Singapore dollar 0.04%. However, Thai Baht up 0.1%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.742, up 0.01% from its previous close of 95.728.
Dollar steadied after touching a 10-month low amid testimony from Federal Reserve Chair Yellen, who signaled that a gradual approach to rate hikes remains the base case.