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Rupee trades little changed against US dollar

LiveMint logoLiveMint 19-07-2017 Ravindra N. Sonavane

Mumbai: The Indian rupee on Wednesday was trading little changed against the US dollar, tracking losses in the Asian currencies markets.

The rupee opened at 64.34. At 9.15am, the rupee was trading at 64.34 a dollar, down 0.01% from its Tuesday’s close of 64.33.

The 10-year bond yield was at 6.455%, compared to its previous close of 6.456%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.26% or 81.86 points to 31,792.85. So far this year, it has risen 19%.

So far this year, the rupee has gained 5.58%, while foreign investors bought $8.50 billion and $16.34 billion in local equity and debt markets, respectively.

Asian currencies were trading lower. Thai baht was down 0.2%, Philippines peso 0.16%, China renminbi 0.12%, Singapore dollar 0.05% and China offshore 0.05%. However, South Korean won was up 0.07%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.738, up 0.14% from its previous close of 94.604.

Traders are cautious ahead of Thursday’s European Central Bank policy meeting and next week’s US Federal Reserve meeting.

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