The Indian rupee fell in intraday trade on Tuesday after data showed wholesale price-based inflation accelerated to a three-month high.
At 1.17pm, the Indian rupee was trading at 60.32, down 0.22% from its previous close. The local currency had opened at 60.30, against its Friday’s close of 60.18. Before the inflation data, rupee had strengthened to 60.23 a dollar.
Wholesale Price Index (WPI) inflation rose to 5.7% in March. The median estimate in a Bloomberg poll of 42 analysts was for the WPI index to come in at 5.3%.
India’s benchmark index, the Sensex, was trading at 22,453.13 points on BSE, down 0.86%.
Most of the Asian currencies were trading lower with South Korea down 0.18%, Thai Baht down 0.1%, Philippines Peso down 0.09%.
Since the beginning of this year, the rupee has gained 2.45%, while foreign institutional investors have bought $4.83 billion in local equity markets.
The yield on India’s 10-year benchmark bond was trading at 9.002%, compared with its Friday’s close of 8.945%.
The dollar index, which measures the US currency’s strength against major global currencies, was trading at 79.824, up 0.12% from the previous close of 79.729.
Another inflation gauge, the consumer price based Consumer Price Index (CPI) inflation data will be released at 5.30pm on Tuesday. A Bloomberg poll expects the CPI to be at 8.25% for March as against 8.1% in February.
Source:- livemint.com
No comments:
Post a Comment