(Reuters)
(Reuters)

Rupee declines 17 paise against US dollar

  • The rupee ended at 69.68 a dollar, down 0.25%, from its previous close of 69.51
  • The rupee came under pressure due to a rise in global oil prices, concerns over US China trade war

Mumbai: The rupee on Tuesday weakened against the US dollar along with other Asian currencies due to persistent concerns over the US-China trade war. The rupee also came under pressure after a surge in global crude oil prices.

The rupee ended at 69.68 a dollar, down 0.25%, from its previous close of 69.51. The Indian currency had opened at 69.65 a dollar.

According to reports, US president Donald Trump on Monday said Washington was “not ready" to sign a deal with China yet.

Having declined through most of last week, benchmark Brent crude oil futures rose 2% to $70.05 a barrel on Monday.

Back home, the Sensex rose 0.17% to end at 39,749.73 points. Year-to-date, the index has risen 10%.

The 10-year bond yield closed at 7.149%, compared with Monday's close of 7.167%.

So far this year, the rupee has risen 0.38% against the US greenback. During the period, foreign investors bought $9.67 billion in Indian equities and sold $314.90 million in debt market.

Other Asian currencies traded lower in early deals. The South Korean won was down 0.31%, Malaysian ringgit 0.16%, China Offshore 0.15%, Singapore dollar and the China renminbi fell 0.13% each, while the Philippines peso eased 0.07%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.792, up 0.18%, from its previous close of 97.613.

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