Rupee opens marginally lower against US dollar

  • So far this year, the rupee has gained 0.17%
  • At 9.08 am, the rupee was trading at 69.72 a dollar

Indian rupee on Thursday weakened marginally against US dollar tracking losses in its Asian peers as traders assess the global slowdown with China reporting weaker-than-expected industrial production data.

At 9.08am, the rupee was trading at 69.72 a dollar, down 0.3% from its previous close of 69.54. The home currency opened at 69.68 a dollar.

China's industrial output rose 5.3% from a year earlier, the worst start to a year since 2009. Retail sales expanded 8.2%, at the slowest pace since at least 2012.

The 10-year bond yield was trading at 7.403% from its Wednesday's close of 7.377%. Bond yields and prices move in opposite directions.

So far this year, the rupee has gained 0.17%, while foreign investors have bought $4.13 billion in equity and sold $804 million in debt market.

India's benchmark index Sensex rose 0.01% to 37757.76 points. Year to date, it rose 4.3%.

Asian currencies were trading lower. Japanese yen was down 0.35%, China Offshore 0.22%, Singapore dollar 0.14%, Thai baht 0.08%, China renminbi 0.04%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.606, up 0.06% from its previous close of 96.55.

(Bloomberg contributed this story)