Rupee opens flat against US dollar
At 9.10am, the rupee was trading at 70.21 a dollar, down 0.03% from its Friday’s close of 70.18. The rupee opened at 70.16 a dollar
Mumbai: The Indian rupee on Monday was trading little changed against the US dollar, tracking mixed Asian currencies. At 9.10am, the rupee was trading at 70.21 a dollar, down 0.03% from its Friday’s close of 70.18. The rupee opened at 70.16 a dollar. The 10-year gilt yield was trading at 7.292% from its previous close of 7.277%. Bond yields and prices move in opposite directions. The benchmark Sensex index rose 0.44% to 35,899.92 points.
So far this year, the rupee has declined 9%, while foreign investors have sold $4.46 billion and $7.01 billion in the equity and debt markets, respectively.
Asian currencies were trading mixed. China Offshore was up 0.31%, China renminbi 0.14%, Japanese yen 0.14%, Thai Baht 0.14%, Singapore dollar 0.11%. However, Taiwan dollar was down 0.21%, Malaysian ringgit 0.14%, South Korean won 0.12%, Philippines peso 0.05%.
The dollar fell against all its Group-of-10 peers following a report President Donald Trump had discussed removing Federal Reserve Chairman Jerome Powell following last week’s interest-rate hike. The greenback also extended last week’s decline as a U.S. government shutdown caused by a financing dispute between Democrats and the White House looked set to last past Christmas
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.771, down 0.19% from its previous close of 96.956.
(Bloomberg contributed to this story)
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