Home >Markets >Commodities >Rupee opens marginally lower

The Indian rupee on Wednesday weakened marginally against the US dollar amid mixed trade in other Asian currencies as traders took a breather after the partial US-China trade deal sent global markets higher.

In early deals today, the rupee traded at 71.09 a dollar compared with Tuesday's close of 70.98. The Indian unit had opened 71.03 a dollar.

The yield on the 10-year government bond was at 6.751% compared with its previous close of 6.752%.

In the year so far, the rupee has weakened 1.7%, while foreign investors have bought nearly $13.42 billion in Indian equities and $3.93 billion in debt.

In pre-opening trade, the benchmark Sensex rose 0.26% or 25.25 points to 41377.42 points. Year to date, it has gained 14.65%.

Asian currencies were steady to lower as traders assess the recent rally sparked by the partial US-China trade deal. The China renminbi was down 0.15%, China Offshore 0.12%, Singapore dollar 0.08%, Indonesian rupiah 0.07%. However, South Korean won and Japanese yen were up 0.04% each.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.32, up 0.1% from its previous close of 97.222.

(Bloomberg contributed this story)

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