Rupee opens marginally lower amid thin trade

  • Government bond yields fell as oil prices declined
  • So far this year, the rupee has risen 1% against the US dollar

MUMBAI: The Indian rupee opened marginally lower against the US dollar on Tuesday amid thin trade as many dealers were on leave due to heavy rains in Mumbai.

At 9.02 am, the rupee traded at 69.04 a dollar, down 0.13% from its previous close of 68.95. The Indian currency had opened at 68.99 a dollar.

The Maharashtra government has announced a public holiday in Mumbai following India Meteorological Department’s forecast of very heavy rainfall.

Government bond yields fell as oil prices declined. The 10-year bond yield was at 6.856%, compared with Monday's close of 6.88%.

The benchmark equity index Sensex was up 0.22% at 39,771.98 points. Year to date, the index has risen 10.03%.

So far this year, the rupee has risen 1% against the greenback. During the period, foreign investors bought $11.34 billion in Indian equities and $1.43 billion in the debt market.

Asian currencies were trading lower. South Korean won was down 0.67%, Philippines peso fell 0.31%, Indonesian rupiah lost 0.23%, Thai Baht was 0.23% lower, and China renminbi declined 0.16%. Malaysian ringgit fell 0.16%, China Offshore was down 0.14%, Taiwan dollar declined 0.06%, and Singapore dollar lost 0.06%.

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