BackRupee closes at 67.28, down 0.19% from previous close
The rupee opened at 67.13 a dollar and touched a high and a low of 67.13 and 67.27, respectively
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Mumbai: The Indian rupee on Thursday weakened against the US dollar, tracking the losses in local equity and Asian currencies markets. The rupee closed weaker for four out of five trading sessions.
The home currency closed at 67.28, down 0.19% from its previous close of 67.15. The rupee opened at 67.13 a dollar and touched a high and a low of 67.13 and 67.34, respectively.
India’s benchmark Sensex index fell 0.75% or 200.88 points to closed at 26,525.46. So far this year, Sensex is up 1.56%.
The Bank of Japan (BOJ) refrained from adding any stimulus that could slow its advance. Governor Haruhiko Kuroda and his board opted to continue to gauge the economic impact of their negative rate policy ahead of an election next month.
The BOJ decision comes after the US Federal Reserve refrained from raising borrowing costs this month, with chair Janet Yellen citing uncertainty over the UK’s 23 June referendum on whether to stay in the European Union as a factor, Bloomberg reported.
Data released by the commerce ministry showed exports contracted 0.79% in May, while imports slipped 13.16%, leaving a trade deficit of $6.27 billion.
Meanwhile, India’s 10-year bond yield closed at 7.507%, compared with Wednesday’s close of 7.517%.
So far this year, the rupee has weakened 1.67%, while foreign institutional investors (FIIs) have bought $2.85 billion from the local equity market and sold $1.20 billion in debt markets.
Most Asian currencies closed lower. Thai Baht was down 0.18%, Philippines peso 0.15%, Indonesian rupiah 0.15%, China Renminbi 0.12%, China Offshore 0.11%, Malaysian ringgit 0.05%. However, Japanese yen was up 1.7%, South Korean won 0.16%, Taiwan dollar 0.14%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.026, up 0.43% from its previous close of 94.61.
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