(Photo: AFP)
(Photo: AFP)

Rupee ends down tracking weak Asian currencies, US Fed meeting in focus

  • The rupee closed at 69.90 a dollar, down 0.15% from its previous close of 69.80
  • The currency had opened at 69.81 a dollar, touching a high 69.75 and a low 69.98 during the day

Mumbai: The Indian rupee closed lower against the US dollar on Monday, tracking other Asian currencies and as traders await the US Federal Reserve’s policy review meeting, scheduled this week.

The rupee closed at 69.90 a dollar, down 0.15% from its previous close of 69.80. The currency had opened at 69.81 a dollar, touching a high 69.75 and a low 69.98 during the day.

The 10-year bond yield was at 6.931% against Friday’s close of 6.919%.

The benchmark Sensex index lost 1.25% or 491.28 points to close at 38960.79 points. Since January, the index has gained 8.02%.

So far this year, the rupee has weakened 0.19%. Foreign investors have bought $11.26 billion and $1.34 billion in equity and debt markets, respectively, during the period.

Most other Asian currencies were also subdued today. Thai baht declined 0.30%, Philippines peso fell 0.30%, Malaysian ringgit lost 0.28% and South Korean won fell 0.11%, the Japanese yen fell 0.110%, Indonesian rupiah eased 0.08%, Hong Kong dollar and China Offshore declined 0.02% each, while the Taiwan dollar was down a tad. However, Singapore dollar gained 0.051% and China renminbi rose marginally.

The dollar index, which measures the US greenback’s strength against major currencies, was at 97.533, down 0.04% from its previous close of 97.572.

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