Mumbai: The Indian rupee weakened on Monday along with other emerging Asian currencies against the US dollar as fresh doubts over US-China trade talks resurfaced after a report said that Beijing may be reluctant on agreeing to a broad deal.
Rupee closed at 71.03 a dollar, down 0.19% from Friday's close of 70.89. The Indian unit had opened at 70.99 a dollar.
Benchmark Sensex closed down 0.38%, or 141.33 points, at 37,531.98. So far this year it has gained 4.06%.
The yield on the 10-year Indian government bond closed at 6.675% compared with its previous close of 6.688%.
In the year so far, the rupee has weakened 1.76%, while foreign investors have bought nearly $7.79 billion in Indian equities and $3.88 billion in debt.
Most of Asia’s emerging-currencies declined, led by the offshore Chinese yuan, after a report said Chinese officials appear to be reluctant to agree to a broad trade deal with the US ahead of formal negotiations scheduled for this week.
China offshore was down 0.283%, Singapore dollar 0.152%, Malaysian ringgit 0.174%, Indonesian rupiah 0.177%, Philippines peso 0.189%, Hong Kong dollar 0.065%, Thai Baht 0.039%. However, Japanese yen was up 0.075%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.852, up 0.04% from its previous close of 98.808.
(Bloomberg contributed this story)