Rupee trades lower against US dollar

Investment

Yields on 10-year government bonds were at 7.688% compared to Wednesday’s close of 7.678%. Photo: Reuters

Yields on 10-year government bonds were at 7.688% compared to Wednesday’s close of 7.678%. Photo: Reuters

Mumbai: The Indian rupee on Thursday weakened marginally against US dollar, tracking losses in its Asian peers.

At 2pm, the rupee was trading at 65.03, down 0.15% from its previous close of 64.89. The home currency opened at 64.93 a dollar and touched a high and a low of 64.90 and 65.05 respectively.

India’s benchmark Sensex index rose 0.59% or 195.14 points to 33,228.23. So far this year, Sensex has fallen 0.5%.

Yields on 10-year government bonds were at 7.688% compared to Wednesday’s close of 7.678%. Bond yields and prices move in opposite directions.

Year to date, the rupee weakened 1.57%, while foreign investors have bought $235.20 million and $888.20 billion in equity and debt markets, respectively.

Asian currencies were trading lower after the White House softened its stance on planned trade tariffs. Philippines peso was down 0.21%, China offshore 0.18%, Indonesian rupiah 0.17%, China renminbi 0.11%, South Korean won 0.11%, Taiwan dollar 0.07%, Malaysian ringgit 0.06%. However, Japanese yen was up 0.1%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 89.632, down 0.01% from its previous close of 89.637.

[“Source-livemint”]

Written by Loknath Das