Mumbai: The Indian rupee on Thursday was trading marginally weaker against the US dollar, ahead of the key inflation and index of industrial production (IIP) data due after 5.30pm.
At 2.03pm, the home currency was trading at 66.61, down 0.08% from its previous close of 66.57. The rupee opened at 66.62 a dollar and touched a high and a low of 66.54 and 66.68, respectively.
According to Bloomberg estimates, consumer price index (CPI) will be at 5.05% for April against 4.83% in March. The IIP will be at 2.5% in March as compared to 2% in February.
The government will issue wholesale price inflation (WPI) data on 16 May after 12pm. According to Bloomberg analysts, WPI will be at -0.2% for April against -0.85% in March.
India’s benchmark Sensex index rose 0.48% or 121.60 points to 25,718.62. So far this year, Sensex is down 1.5%.
India’s 10-year bond yield was trading at 7.425%, as compared with its Wednesday’s close of 7.427%.
So far this year, the rupee has weakened 0.68%, while foreign institutional investors have bought $1.81 billion from the local equity market and sold $102.90 million in debt markets.
Asian currencies were trading lower. Japanese yen was down 0.47%, Philippines peso 0.23%, China renminbi 0.21% and Singapore dollar 0.21%. However, South Korean won was up 0.43%, Malaysian ringgit 0.4% and Indonesian rupiah rose 0.08%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.975, up 0.16% from its previous close of 93.823.
Source:.livemint.com
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