(Photo: AFP)
(Photo: AFP)

Rupee opens weak following the Asian currencies

  • The 10-year bond yield stood at 6.917%
  • So far this year, rupee has weakened 0.14%

Mumbai: The Indian rupee on Monday weakened against the US dollar, tracking the losses in other Asian currencies.

At 09:08 am rupee was trading at 69.89 a dollar, down 0.12% from its previous close of 69.80. The currency opened at 69.81 a dollar, touching a high 69.81 and a low 69.89.

The 10-year bond yield stood at 6.917%, from its Friday’s close of 6.919%. Bond yields and prices move in opposite directions.

Benchmark Sensex Index gained 0.16% or 62.29 points to 39514.36 points in pre-opening trade. Since January, it has gained 9.55%.

So far this year, rupee has weakened 0.14%. while foreign investors have bought $11.26 billion and $ 1.34 billion in equity and debt markets, respectively.

Asian currencies were trading lower. Malaysian Ringgit lost 0.216%, Indonesian Rupiah 0.195%, South Korean Won 0.126%, Philippines Peso 0.115%, Taiwan Dollar 0.098%, Japanese Yen 0.028%, China Offshore 0.029% and Hong Kong Dollar 0.023%. However, Singapore Dollar gained 0.088%, China renminbi 0.056% and Thai Baht 0.038%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.491, down 0.08% from its previous close of 97.572.