Rupee opens weaker for third sessions1 min read . Updated: 08 May 2019, 09:16 AM IST
- So far this year, the rupee is up 0.5%
- Other Asian currencies traded mixed
MUMBAI : The Indian rupee on Wednesday traded weak for the third straight session against the US dollar tracking losses in global market as concern about escalating US-China trade tensions weighed on risk appetite.
At 9:06am, the rupee traded at 69.57 a dollar, down 0.20% from its previous close of 69.43. The Indian currency had opened at 69.55 a dollar.
Global financial markets remained subdued following US President Donald Trump’s threat of raising tariffs on goods imported from China. The focus is now on Washington where China’s top negotiator is scheduled to arrive later this week for trade talks.
The 10-year bond yield was at 7.391% compared with Tuesday's close of 7.382%.
The benchmark Sensex index rose 0.08% to 38309.04 points. Year to date, the index has risen 6.12%.
So far this year, the rupee is up 0.5%. During the period, foreign investors bought $9.88 billion in equity and sold $5.43 billion in debt market.
Other Asian currencies traded mixed. Japanese yen was up 0.22%, Thai Baht was 0.18% higher, China renminbi rose 0.17%, the Singapore dollar was up 0.17%. However, South Korean won was down 0.21%, Indonesian rupiah eased 0.14%, and The Philippines peso was 0.12% lower.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.455, down 0.18% from its previous close of 97.628.
(Bloomberg contributed this story)