The Indian unit had opened at 71.07.
The Indian unit had opened at 71.07.

Rupee falls for third day in a row against US dollar

  • Rupee closes at 71.11 a dollar, down 0.04% from Friday's close of 71.09
  • Yield on the 10-year government bond closes at 6.644% compared with its previous close of 6.626%

MUMBAI : Indian rupee weakened for third day in a row against the US dollar on Monday after a jump in global oil prices as two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle.

Rupee closed at 71.11 a dollar, down 0.04% from Friday's close of 71.09. The Indian unit had opened at 71.07.

Yield on the 10-year government bond closed at 6.644% compared with its previous close of 6.626%.

Benchmark index, Sensex fell 0.99%, or 416.46 points, to close at 41,528.91 points. Year-to-date, the index has gained 0.67%.

Year-to-date, the rupee has strengthened 0.29%, while foreign investors have bought nearly $1.71 billion in Indian equities and sold $1.13 billion in debt.

Asian currencies closed lower, Malaysian ringgit down 0.118%, China Renminbi 0.076%, China Offshore 0.058%, Taiwan dollar 0.043%, Singapore dollar 0.037%, Japanese yen 0.036%, Hong Kong dollar 0.033% and Philippines peso 0.026%. However, Thai bhat gained 0.168%, South Korean won was up 0.121% and Indonesian rupiah 0.044%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.680, up 0.08% from its previous close.

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