Rupee closes flat against US dollar
The rupee ended at 67.33 against US dollar, down 0.02% from its previous close of 67.32
Mumbai: The Indian rupee on Friday closed little changed against US dollar ahead of key Karnataka election exit polls and inflation data due next week.
The home currency ended at 67.33 against US dollar, down 0.02% from its previous close of 67.32. The currency opened at 66.17 a dollar.
The 10-year bond yield ended at 7.729% from its previous close of 7.714%. Bond yields and prices move in opposite directions.
Karnataka elections will be held on Saturday and its exit polls will be out on the same day after 6pm. The final results will be declared on 15 May.
The government will announce consumer price inflation (CPI) and wholesale price inflation (WPI) on 14 May. According to Bloomberg analyst estimates, CPI and WPI will be at 4.45% and 2.9%, respectively, for April month. Last month, CPI and WPI stood at 4.28% and 2.47%, respectively.
So far this year, rupee weakened over 5% while foreign investors have bought $742.40 million and sold $2.67 billion in equity and debt markets, respectively.
Benchmark Sensex Index rose 0.82% or 289.52 points to 35535.79. Since start of January, it gained 4%.
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