Rupee, bond prices fall as crude gains1 min read . Updated: 09 Apr 2019, 09:38 AM IST
- So far this year, the rupee has gained 0.44%
- Asian currencies were trading higher
MUMBAI: Rupee opened marginally weaker against US dollar while 10-year government bonds were trading lower for the fourth consecutive session today to hit a near six-week low after continued rising crude increased inflationary and fiscal slippage fears.
At 9.15am, the 10-year bond yield was trading at 7.417% -- a level last seen on 27 February, from its Monday's close of 7.402%. Bond yields and prices move in opposite directions.
The rupee was trading at 69.71 a dollar, down 0.06% from its previous close of 69.67. The home currency opened at 69.59 a dollar.
Oil extended gains to the highest since early November as geopolitical conflicts in Libya and Iran escalate. So far this year, crude surged over 32%.
So far this year, the rupee has gained 0.44%, while foreign investors have bought $7.08 billion in equity and sold $282.70 million in debt market.
India's benchmark index Sensex rose 0.06% to 38723.09 points. Year to date, it rose 7.3%.
Asian currencies were trading higher. South Korean won was up 0.17%, Japanese yen 0.14%, Indonesian rupiah 0.11%, Philippines peso 0.1%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.004, down 0.05% from its previous close of 97.05.
(Bloomberg contributed this story)