Rupee falls for third day against US dollar1 min read . Updated: 15 Feb 2019, 02:31 PM IST
- So far this year, the rupee has lost 2.24% against the dollar
- Firming oil prices have hurt rupee
The Indian rupee weakened for the third consecutive session against the US dollar on Friday amid firming oil prices. At 2.09 pm, the home currency was trading at 71.37 to a dollar, down 0.30% from its Thursday’s close of 71.16. The currency opened at 71.22 a dollar, touching a high 71.21 and a low 71.45.
The 10-year government bond yield stood at 7.353%, as compared to its previous close of 7.332%. Bond yields and prices move in opposite directions.
So far this year, the rupee has lost 2.24% against the dollar, while foreign investors have bought $378.03 million and sold $310.44 million in the equity and debt markets, respectively.
Most other Asian currencies were trading lower. The Indonesian rupiah lost 0.480%, Malaysian ringgit 0.403%, South Korean won 0.306%, China Offshore 0.138%, China renminbi 0.089%, Singapore dollar 0.066%, Taiwan dollar 0.058% and Hong Kong dollar 0.009%. However, the Japanese yen gained 0.154%, Philippines peso 0.136% and Thai baht 0.096%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.157, up 0.18% from its previous close of 96.978.