(Photo: Reuters)
(Photo: Reuters)

Amid muted activity, rupee settles at 71.19 against US dollar

  • Forex traders said the rupee is trading in a narrow range amid lack of cues from the global market
  • In the year so far, the rupee has weakened 1.98%

Mumbai: Indian rupee on Monday was little changed as traders preferred to be on the sidelines and wait for fresh cues ahead of holidays.

Domestic currency closed at 71.19 a dollar, down 0.1% from Friday's close of 71.12.

In the year so far, the rupee has weakened 1.98%, while foreign investors have bought nearly $13.97 billion in Indian equities and $3.7 billion in debt.

The 10-year government bond yield was trading at 6.562% from its previous close of 6.602%. Benchmark equity index Sensex fell 0.09% or 38.88 points to 41642.66 points. Year to date, it has gained 15.45%.

Asian currencies were closed mixed. South Korean won lost 0.32%, Philippines peso was down 0.18%, China Offshore lost 0.06%, China renminbi 0.06%, Malaysian ringgit 0.04%, Singapore dollar 0.02% and Indonesian Rupiah 0.007%.However, Hong Kong Dollar gained 0.11%, Thai Baht 0.07%, Japanese Yen 0.04% and Taiwan Dollar 0.007%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.705, up 0.02% from its previous close of 97.69.