Rupee edges lower against US dollar
At 9.08am, the rupee was trading at 71.79 a dollar, down 0.15% from its Thursday’s close of 71.69. The currency opened at 71.75 a dollar
Mumbai: The Indian rupee on Friday weakened marginally against the US dollar, tracking losses in its Asian peers. At 9.08am, the rupee was trading at 71.79 a dollar, down 0.15% from its Thursday’s close of 71.69. The currency opened at 71.75 a dollar. The 10-year government bond yield stood at 7.409% from its previous close of 7.408%. Bond yields and prices move in opposite directions. The benchmark Sensex Index rose 0.21% or 74.34 points to 36,003.98 points. Year to date, it has gained 5.5%. So far this year, the rupee has declined 11%, while foreign investors have sold $4.60 billion and $7.48 billion in the equity and debt markets, respectively.
Asian currencies were trading lower as weak Chinese economic data and a warning from the European Central Bank damped risk sentiment before the Federal Reserve reviews interest rates next week.
South Korean won was down 0.54%, Indonesian rupiah 0.4%, China Offshore 0.16%, China renminbi 0.11%, Philippines peso 0.1%, Malaysian ringgit 0.07%, Singapore dollar 0.06%. However, Japanese yen was up 0.12% and Hong Kong dollar 0.05%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.123, up 0.06% from its previous close of 97.064.
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