So far this year, the rupee is has gained 0.1% (Mint)
So far this year, the rupee is has gained 0.1% (Mint)

Rupee ends at two-week low of 69.95 against dollar

  • Asian currencies fell as traders remained on the edge ahead of trade talks between US and China this week
  • A Chinese delegation headed by Vice Premier Liu He is scheduled to arrive in Washington later in the day for trade talks with US officials

Mumbai: The Indian rupee on Thursday fell for the fourth straight session to close at a two-week low against the US dollar, joining a rout among peers across Asia as traders remained on the edge ahead of trade talks between US and China this week.

The rupee ended at 69.95 a dollar, a level last seen on 26 April, down 0.33% from its previous close of 69.71. The Indian currency opened at 69.92 a dollar.

A Chinese delegation headed by Vice Premier Liu He is scheduled to arrive in Washington on Thursday for trade talks with US officials. The US had earlier said it will raise tariffs on $200 billion of Chinese goods to 25% from 10% on Friday.

Back home, the 10-year bond yield was at 7.397% compared with Tuesday's close of 7.375%.

The benchmark Sensex index fell 0.61% to 37,558.91 points. Year-to-date, the index has risen 4.77%.

So far this year, the rupee is has gained 0.1%. During the period, foreign investors bought $10.28 billion in equity and sold $962 million in debt market.

Other Asian currencies also traded lower. South Korean won was down 0.57%, China renminbi eased 0.37%, Indonesian rupiah was 0.35% lower, The Philippines peso was weak by 0.32%, China Offshore fell 0.32%, Thai Baht was down 0.13%, Singapore dollar fell 0.08%, Malaysian ringgit eased 0.08%. The Japanese yen, however, bucked the trend and was up 0.16%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.612, down 0.01% from its previous close of 97.623.

(Bloomberg contributed this story)

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