Rupee trades lower against US dollar

Mumbai: Indian rupee on Tuesday traded lower against US dollar tracking losses in its local equity and Asian currencies market. At 9.15 am, the home currency was trading at 73.73 a dollar, down 0.23% from its Monday’s close of 73.56. The currency opened at 73.70 a dollar.

The 10-year gilt yield stood at 7.935% from its previous close of 7.93%. Bond yields and prices move in opposite directions.

Benchmark Sensex fell 0.12% or 40.84 points to 34,093.54 points. Year to date, it has risen 0.23%.

So far this year, the rupee has declined 13.18%, while foreign investors have sold $4.55 billion and $8.69 billion in the equity and debt markets, respectively.

Asian currencies were trading lower as the dollar held near a two-month high and investors weighed whether Chinese measures to supports its economy and markets would be sufficient.

South Korean won was down 0.67%, Thai Baht 0.28%, Philippines peso 0.25%, Taiwan dollar 0.20%, Indonesian rupiah 0.16%, Singapore dollar and China Offshore were down 0.12% each.NextMAds

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.036, up 0.02% from its previous close of 96.013.