Rupee opens lower against US dollar

  • The 10-year bond yield was trading at 7.295%, down from its Friday's close of 7.336%
  • So far this year, the rupee has gained 1.25%

Tracking losses in Asian currencies market on rising concerns over global economic growth, the Indian rupee today weakened marginally against the US dollar.

At 9.03am, the rupee was trading at 69.07 a dollar, down 0.17% from its previous close of 68.96. The home currency opened at 69.07 a dollar.

The 10-year bond yield was trading at 7.295%, down from its Friday's close of 7.336%. Bond yields and prices move in opposite directions.

So far this year, the rupee has gained 1.25%, while foreign investors have bought $6.11 billion in equity and $384.30 million in debt market.

India's benchmark index Sensex rose 0.09% to 38397.14 points. Year to date, it rose 5.81%.

Asian currencies were trading lower. South Korean won was down 0.37%, Indonesian rupiah 0.35%, Malaysian ringgit 0.16%, Philippines peso 0.16%, Taiwan dollar 0.1%. However, Thai Baht was up 0.6%, Japanese yen 0.13%, China renminbi 0.08%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.637, down 0.02% from its previous close of 96.651.

(Bloomberg contributed this story)

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