Photo: iStock
Photo: iStock

Rupee steady against dollar amid lack of cues

  • In early trade today, the rupee was at 71.01 a dollar, down a tad from Wednesday's close of 70.97
  • The yield on the 10-year government bond was at 6.723% compared with its previous close of 6.71%

The Indian rupee was little changed against the US dollar in early deals on Thursday amid lack of fresh cues, with year-end holidays around the corner. Other Asian currencies were largely steady.

In early trade today, the rupee was at 71.01 a dollar, down a tad from Wednesday's close of 70.97. The Indian unit had opened 70.99 a dollar today.

The yield on the 10-year government bond was at 6.723% compared with its previous close of 6.71%.

In the year so far, the rupee has weakened 1.7%, while foreign investors have bought nearly $13.59 billion in Indian equities and $3.84 billion in debt during the period.

In pre-opening trade, the benchmark Sensex was a tad higher at 41554.76 points. Year to date, it has gained 15.22%.

Among Asian currencies, the South Korean won was up 0.5%, Taiwan dollar 0.16%, Thai Baht 0.09%, China Offshore 0.08%, Philippines peso 0.07%. However, the Hong Kong and Singapore dollar were down 0.05% each.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.325, down 0.08% from its previous close of 97.4.

(Bloomberg contributed this story)

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