Rupee opens marginally lower

  • So far this year, the rupee has gained 1.32%
  • The 10-year bond yield was trading at 7.33% from its Tuesday's close of 7.324%

MUMBAI: The Indian rupee on Wednesday was trading marginally lower against the US dollar, tracking losses in Asian currencies market.

At 9.15am, the rupee was trading at 68.97 a dollar, down 0.17% from its previous close of 68.86. The home currency opened at 69.01 a dollar.

The 10-year bond yield was trading at 7.33% from its Tuesday's close of 7.324%. Bond yields and prices move in opposite directions.

So far this year, the rupee has gained 1.32%, while foreign investors have bought $6.22 billion in equity, and $966.40 million in debt market.

India's benchmark index Sensex rose 0.10% to 37846.07 points. Year to date, it rose 4.83%.

Asian currencies market were trading lower amid growing expectations that central banks globally will have to ease to cope with slowing growth.

Thai Baht was down 0.36%, Indonesian rupiah 0.25%, Malaysian ringgit 0.14%, Philippines peso 0.11%, Singapore dollar and South Korean won were down 0.1% each, Taiwan dollar 0.07%. However, Japanese yen was up 0.1%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.902, up 0.17% from its previous close of 96.566.

(Bloomberg contributed this story)

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