(Photo: Mint)
(Photo: Mint)

Rupee opens marginally lower against US Dollar

  • At 9.15 am, the rupee was trading at 70.97 a dollar, down 0.07% from its previous close of 70.91
  • India's benchmark Sensex Index rose 0.26% to 36,156.55 points

MUMBAI: Indian rupee on Tuesday was trading marginally lower against US dollar tracking losses in its Asian currencies market.

At 9.15 am, the rupee was trading at 70.97 a dollar, down 0.07% from its previous close of 70.91. The home currency opened at 70.95 a dollar.

The 10-year bond yield was trading at 7.376% from its Friday's close of 7.377%. Bond yields and prices move in opposite directions. Monday markets were closed due to Mahashivratri.

So far this year, the rupee has declined 1.61%, while foreign investors have bought $2.30 billion in equity and sold $1.65 billion in debt market.

India's benchmark Sensex Index rose 0.26% to 36,156.55 points. Year to date, it rose 0.1%.

Asian currencies were trading lower as traders looked for details of a possible trade deal between the US and China. Yuan drifted after the country lowered its goal for economic growth and announced a major tax cut.

Philippines peso was down 0.66%, Thai Baht 0.16%, Japanese yen 0.1%, Indonesian rupiah 0.07%, South Korean won 0.06%. However, China renminbi 0.1%, China Offshore 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.688, down 0.01% from its previous close of 96.682.

(Bloomberg contributed this story)

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