The Indian rupee on Wednesday weakened against the dollar, tracking losses in Asian currencies. The local unit opened at 64.03 per dollar. At 9.09am, the home currency was trading at 64, down 0.13% from its previous close of 63.92. The Sensex index gained 0.23% or 59.92 points to 26,541.17 points in pre-opening trade.
Most of the Asian currencies were trading lower against the dollar. Malaysian ringgit was trading down 0.072%, Indonesian rupiah was down 0.188%, Thai baht 0.098%, South Korean won 0.096, Singapore dollar 0.155% and Japanese yen 0.088%.
The yield on India’s 10-year benchmark bond was trading at 7.80% compared with its Tuesday’s close of 7.79%. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has lost 1.38%, while foreign institutional investors have bought $12.46 billion from local equity and bond markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.16, the same level as its previous close.
Source:livemint.com
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