Rupee weakens against US dollar, bond yields inch higher1 min read . Updated: 28 May 2019, 09:40 AM IST
- Brent crude oil futures rose 2%, crossing the $70 a barrel mark
- Bond yields hardened slightly after falling to over 1-year lows
The Indian rupee on Tuesday weakened against the US dollar along with other Asian currencies due to persistent concerns over US-China trade war. The rupee also came under pressure after a surge in global crude oil prices.
At 9.05 am, the rupee traded at 69.68 a dollar, down 0.24% from its previous close of 69.51. The Indian had currency opened at 69.65 a dollar.
According to reports, US president Donald Trump on Monday said that Washington was “not ready" to sign a deal with China yet.
Having declined through most of last week, benchmark Brent crude oil futures rose 2% to $70.05 a barrel on Monday.
Back home, the benchmark Sensex index was up 0.31% at 39,807.81 points in pre-open trade. Year to date, the index has risen 10%.
The 10-year bond yield was at 7.176%, compared with Monday's close of 7.167%.
So far this year, the rupee has risen 0.38% against the US greenback. During the period, foreign investors bought $9.67 billion in Indian equities and sold $314.90 million in debt market.
Other Asian currencies traded lower in early deals. The South Korean won was down 0.31%, Malaysian ringgit 0.16%, China Offshore 0.15%, Singapore dollar and the China renminbi fell 0.13% each, while the Philippines peso eased 0.07%.