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Business News/ Markets / Stock Markets/  Rupee ends lower at 71.37 against dollar
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Rupee ends lower at 71.37 against dollar

Domestic currency closed at 71.37 a dollar, down 0.21% from Wednesday's close of 71.23
  • The Indian unit had opened 71.24 a dollar
  • The Indian unit had opened 71.24 a dollar (Bloomberg)Premium
    The Indian unit had opened 71.24 a dollar (Bloomberg)

    Indian rupee on Thursday weakened marginally against US dollar tracking losses in Asian currencies.

    Domestic currency closed at 71.37 a dollar, down 0.21% from Wednesday's close of 71.23. The Indian unit had opened 71.24 a dollar.

    Gains in global crude oil dampened sentiment among traders. Oil prices rose in Asian trade, supported by the progress in the US-China trade talks and the political unrest in Iraq.

    The 10-year government bond yield was trading at 6.503% from its previous close of 6.505%.

    Since 1 April till date, the rupee has weakened 3.12%, while foreign investors have bought nearly $6.01 billion in Indian equities and $2.30 billion in debt.

    Benchmark index, Sensex rose 0.8% or 320.62 points to close at 41626.64 points. Since 1 April, it has gained 7.6%.

    Asian currencies were trading lower. South Korean Won lost 0.30%, Taiwan Dollar 0.29%, Singapore Dollar 0.23%, Indonesian Rupiah 0.19%, Philippine Peso 0.13%, Japanese Yen 0.02%, Hong Kong Dollar 0.009%, China Offhsore 0.008% and China Renminbi 0.007%. However,Malaysian ringgit and Thai Baht gained 0.56% and 0.43% respectively.

    The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 96.712, up 0.28% from its previous close of 96.445.

    Earlier, the Indian rupee on Thursday weakened marginally against US dollar tracking losses in Asian currencies. Gains in global crude oil dampened sentiment among traders.

    At 9.10 am, the domestic currency was trading at 71.27 a dollar, down 0.07% from Wednesday's close of 71.23. The Indian unit had opened 71.24 a dollar.

    Oil prices rose in Asian trade, supported by the progress in the US-China trade talks and the political unrest in Iraq.

    The 10-year government bond yield was trading at 6.496% from its previous close of 6.505%.

    Since 1 April till date, the rupee has weakened 3%, while foreign investors have bought nearly $6.08 billion in Indian equities and $2.22 billion in debt.

    In pre-opening trade, the benchmark Sensex rose 0.08% or 31.37 points to 41337.39 points. Since 1 April, it has gained 6.81%.

    Asian currencies were trading lower. Indonesian rupiah was down 0.26%, South Korean won and Taiwan dollar eased 0.15% each, Singapore dollar and China Renminbi were 0.05% lower each. However, Thai Baht was up 0.22%, Malaysian ringgit 0.17% and Japanese yen 0.07%.

    The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 96.435, down 0.01% from its previous close of 96.445.

    *(Bloomberg contributed this story)

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    Published: 02 Jan 2020, 09:33 AM IST
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