The Indian rupee weakened, losing the most among major Asian currencies in intra-day trading, as the US dollar rallied against the euro after Russia declared war on Ukraine.
Softness in the domestic equity markets also weighed on the local currency.At 2.05pm, rupee was trading at 61.9325 a dollar, down 0.28% from its previous close of 61.7575. The second-biggest loser in Asia was the Korean won, which fell 0.24% against the dollar.
The rupee had strengthened 0.37% on Friday. The domestic currency on Monday opened at 61.955 a dollar and fell to 61.955 in the afternoon trade.
The dollar index, which measures the US currency’s strength against major global currencies, was trading at 79.841, up 0.18% from the previous close of 79.691.
India’s benchmark equity index, S&P BSE Sensex, was trading at 20,946.69 points, down 0.81%.The yield on India’s 10-year benchmark bond was trading at 8.91%, compared with its previous close of 8.86%. Bond yields and prices move in opposite directions.
Source:- livemint.com
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