Mumbai: Taking cues from other Asian currencies, Indian rupee weakened against the US dollar on Monday.
The rupee closed at 71.84 a dollar, down 0.07% from its previous close of 71.79. The currency had opened at 71.66 a dollar, touching a high of 71.59 and a low of 71.86.
The currency had opened strong for the third consecutive session today against the US dollar amid mixed cues from other Asian currencies due to uncertainty over the US-China trade deal.
So far this year, rupee has lost 2.89%. Foreign investors have bought $11.97 billion and $5.2 billion in equity and debt markets, respectively.
Asian currencies were trading lower, with Japanese Yen down 0.202%, China Offshore 0.133%, China renminbi 0.100%, Malaysian Ringgit 0.084%, Hong Kong Dollar 0.037%, Philippines Peso 0.028% and Indonesian Rupiah 0.014%. However, South Korean Won gained 0.237%, Taiwan Dollar 0.118%, Thai Baht 0.103% and Singapore Dollar 0.007%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.923, down 0.08% from its previous close of 97.999.
The 10-year bond yield dropped 3 basis points to 6.484% from its Friday’s close of 6.524%, whereas the price of the bond gained 0.30% to 99.76. Bond yields and prices move in opposite directions.
The benchmark equity index BSE Sensex lost 0.18% or 72.50 points to close at 40284.19 points. Since January 2019, it has gained 11.69%.