Asian currencies were trading higher
Asian currencies were trading higher

Rupee closes weak against US dollar for fifth consecutive day

  • The domestic currency closed at 71.32 a dollar, down 0.06% from Tuesday's close of 71.27
  • The 10-year government bond yield was trading at 6.582% from its previous close of 6.577%

MUMBAI : Indian rupee weakened against US dollar for fifth day in a row on Thursday,as traders turned cautious as rise in crude oil prices, muted opening of domestic equities and foreign fund outflows weighed on the domestic unit.

The domestic currency closed at 71.32 a dollar, down 0.06% from Tuesday's close of 71.27. The Indian unit had opened at 71.27 a dollar.

In the year so far, the rupee has weakened 2.16%, while foreign investors have bought nearly $14.35 billion in Indian equities and $3.35 billion in debt.

The 10-year government bond yield was trading at 6.582% from its previous close of 6.577%.

Benchmark equity index Sensex lost 0.72% or 297.50 points to close at 41163.76 points. Year to date, it has gained 14.13%.

Asian currencies closed mixed. Indonesian Rupiah 0.15%, Taiwan Dollar 0.09%, Malaysian ringgit 0.06%, Hong Kong Dollar 0.04%, Philippines peso was up 0.04% and Singapore dollar 0.04%. However, Japanese Yen fell 0.18%, China renminbi 0.15%, China Offshore 0.03%, South Korean won 0.02% and Thai Baht fell 0.001%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.68, up 0.05% from its previous close of 97.63.

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