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.

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