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In the year so far, the rupee has weakened 1.5% (Mint file)
In the year so far, the rupee has weakened 1.5% (Mint file)

Rupee weak against dollar; investors await cues on US-China, Brexit deal

  • At 9.10 am, the home currency was trading at 71.06 a dollar, down 0.04% from Thursday's close of 71.03
  • The Indian unit had opened at 71.04 a dollar

The Indian rupee weakened marginally against the greenback on Friday amid a mixed trend in other Asian currencies ahead of the US Federal Reserve’s monetary policy review next week. Traders exercised caution as they await fresh cues on a potential trade deal between the US and China and developments on Brexit.

In early deals today, the rupee traded at 71.06 a dollar, down from Thursday's close of 71.03. The Indian unit had opened at 71.04 a dollar.

The yield on the 10-year Indian government bond was at 6.501% compared with the previous close of 6.502%.

In pre-opening trade, the benchmark Sensex was up 0.2%. In the year so far, the rupee has weakened 1.5%, while foreign investors have bought nearly $8.74 billion in Indian equities and $4.04 billion in debt during the period.

Other Asian currencies traded on a mixed note. The Philippines peso was up 0.19%, Indonesian rupiah 0.1%, Thai Baht 0.08%. However, Malaysian ringgit was down 0.06%, China renminbi 0.05%, Japanese yen 0.05%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.691, up 0.06% from its previous close of 97.631.

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